No, but if something catastrophic occurred at one of my rentals and there was a loss of life, I highly doubt the damages sought in the lawsuit would be limited to my net worth.

Has anyone rehabbed a house that had fire damage?

They are a good company to remediate mold and water damage.

Speaking from experience when they sue they still name you personally and if the claim or damage is big enough they will pierce your corporation.Get an umbrella policy and don't worry about an LLC until you have quite a few properties.Another thing to consider is sometimes when you transfer to another entity you may be re-assessed your property tax.

Just because there are more people, it doesn't mean there will be more damage.

It was rented for half of 2013 but he tenants did damage I had to fix, and while we were at it we made improvements.

Casement windows without large eaves are like open arms inviting in water damage.  

@Mindy Jensenif the tenant prepays but breaks some other term of the lease like smoking or causing damage is the landlord still bound to this tenant?

Its completely overkill to have it pumped annually if its functioning properly, but it will ensure that any problem doesn't have enough time to ruin the fields.Last thing you can do is make sure that your tenants don't physically damage the tank and fields - find a way to mark off or block off the area over the fields.

This also includes the separate flood coverage to cover water damage.