Purchasing a property is a vast and long-term investment.

I’ve got a very large umbrella policy to cover liability right now which might be sufficient for you starting out.

@Chase Farley there is no way that 35 gallons is sufficient.

Speak with your accountant-three properties are likely not enough to provide sufficient payback to do a study.

Aside from that, you want to have replacement cost and sufficient Personal Liability coverage. 

In other words, each property must be self sufficient. 

With non performing notes that are liquidated via foreclosure, the lender recovers 100% of their advances when there is sufficient equity in the property.

It's choice and far too little is noticed how yes, the vast majority of people in the U.S. are law abiding decent people BY CHOICE. 

The vast majority (like99.99%) (if not all) mangers collect the rent then deduct their fee and any expenses for the month and send you a report and your funds or an invoice if you owe them money.In addition, how will the manager know if the tenant paid and when they paid you? 

To the group:  As more and more "deals" cross my desk and I perform underwriting, I find that the vast majority of these deals are simply overpriced offerings - even in lousy locations, Cap Rates are around 3-4%.