The only saving grace in this true story is that the City of Toledo has been trying to implement this for many years, but it is continually halted by property investors filing lawsuits that result in injunctions from a court halting the enforcement.  

If you lost the lawsuit and the property is in your own name, the court could decide to seize your property and more. 

To collect any of the money you feel you are owed you will most likely need to file a lawsuit in small claims court and get a judgement, which will most likely never be collected on.One option that I've used in the past is to offer to release the tenant from the lease for a flat fee.

If you treat one tenant differently from another, and they find out, you could be facing a lawsuit.

The real problem of owning 1% is that a Tax Purchaser must take 2 lawsuits to clean each title.

If all you had was insurance and no LLC, your personal assets would still be at risk (ins doesn't cover all risk - and covers property but not mistakes in judgment - just saying I've seen it and its pretty sad) in a lawsuit and you might not be do some very basic things while you and insurance company sort things out.  

But you get the point, do corporate if you flip to reduce tax, and do pass-through if you do rental so money is not trapped in business in case of a lawsuit. 

Here's what AirDNA says:Property 1 3BR/2BA with an in-law suite in a vague part of northeast Atlanta- Occupancy Rate 57%/Average Rate $222/Rent $2,795Property 2 is a 2BR/2.5BA closest to West Midtown, but it's not walkable to anything- Occupancy Rate 48%/Average Rate $148/Rent $2,850Property 3 is a 4BR/3BA in deeper west Atlanta - Occupancy Rate 49%/Average Rate $322/Rent $3,300I think I could increase occupancy and even nightly rate by giving them a specific theme and taking professional photos. 

Saving $60/hr versus 5 million dollar lawsuit for catastrophic injury/ wrongful death suit . . . 2. 

I understand that the benefit of structuring in this regard is to add layers of anonymity, create some versatility, and structure so that in event of lawsuit all of our assets are not  exposed.