I’ve been told I should not do this and should open an LLC or some other umbrella company for liability protection.

I have done my due diligence with screening, but still want to protect myself in case it does not work out for some reason.Cheers,Paul

From what I read, it seemed geared towards NYC and large commercial projects with many employees.

It is your duty to protect yourself and family first, everyone else comes second and presume others are acting with those same calculations.Don’t beat yourself up, your not stupid or a sucker(not any more).  

It seems like the FED is doing what it can to grease the gears of the economy but how effective will it be? 

You must, however, protect yourself.

However, the deferral is not available to any employer that receives loan forgiveness with respect to the Paycheck Protection Program loan as described above.

The Paycheck Protection Program (PPP) may be available to certain landlords who have payroll.

It just doesn't happen.... instead, we hear sob stories about how tenants are suffering at the hands of their evil landlords and governments step in to provide 'protection'.  

They will usually require the following coverages;  Property, General Liability & Loss of Rents.All 3 of the above coverages are the foundation of most landlord insurance policies.In regards to hiring the PM, you still want all of these coverages under your own policy to protect your interest.