Also pools are a big liability with rentals, especially one like that with all kinds of dangerous potential jumping places (roof, top of waterfall, slide stairs, etc.)

That means if the property is in your name and a tenant, vendor, or other entity decides to sue you, they can go after your personal assets.An LLC mitigates this risk by making your real estate business a separate and distinct entity.

For people with shaky understanding of taxes (and that is at least 95% of BiggerPockets users) your post sounds like:"COST SEGREGATION IS SUPER DUPER COOL AND CREATES TONS OF TAX BENEFITS"And this is what I call dangerous hype, since we love simple formulas like this one and do not bother to invest time in understanding.I will address your specific technical points in a follow-up reply.

Jacksonville serves as one of the only places in florida to look at although if you know jacksonville you know that the area is a very dangerous place thus making me hesitant to invest there. 

There is a distinct reason that most modern style homes are contracted custom homes.

the way I read asbestos potential is that is has to be "friable" to be any danger. in other words say you have raw unpainted ceiling tiles that are falling apart, that asbestos could be considered to getting into the air.

I've done plenty of research, and I know the dangers.

I'm considering renting a spot to an applicant with very poor credit. To offset the risk of the tenant potentially not paying rent I am considering a deposit that is more than 2X their monthly rent and only offering a...

Remember when they split them up into two distinct entities?

How much exposure is dangerous and waht do you do if you find it present.