The term deed was formerly applied also to other solemn written...Deed (action, quotations)Ability: The difficult we do at once; the impossible takes …, Achievement: It is not the least…, Action: Far better it is to dare mighty things, to...See all search results in Articles (48)Dictionarywarranty deed- property guarantee: a deed that binds a seller of property to defend the security of the title against any claims that may arise against the buyer

Here is a clause I have in my assignment contract:Assignee agrees to stand in the place of Assignor, and agrees to indemnify and hold harmless Assignor from and against any claim or action which may hereafter be brought or asserted by Seller against Assignor arising under or by virtue of the AgreementThat should be sufficient protection against any litigation that comes across your way.Although I would have an attorney look over any clauses in your assignment contract to make sure they are in line and legal and maybe ask to see if there is a clause you can add to further protect yourself.

If 60-100 millionaires get royally pissed off within the next couple years - expect a magic green party style candidate to re-arise.

We also need to worry about inflation, as I can see a rise in interest rates on the way.

That seems like a very tricky area to avoid crossing the IRC since I would personally benefit from the insurance if it's paid for my the IRA and seems like a very dark gray area if I am paying for umbrella coverage that is protecting me personally from lawsuits arising from RE in an IRA.

Capital expenses are rare but expensive, and you seldom know when they will arise.

I am trying to research more before I jump in here just due to the complexities that can arise as you guys stated. 

I believe I can leverage direct family to provide the capital for anything above what I cannot afford in terms of closing costs and unanticipated costs that may arise during my first purchase.

I definitely plan to have cash reserves for those unexpected costs that might arise.

@Lee Ripma is correct - as a California resident actively engaging and managing an LLC from California, California will declare nexus and require a registration, a tax filing and a minimum $800 fee each year.Marketing into other states may or may not create nexus (depending on each state's laws, so look them up) and need to register/file in that state, but as @Wayne Brooks indicated, you will most certainly need to be registered in any state where you want to sign contracts and otherwise conduct business in that state.From each state's point of view, anybody who wishes to sue you must be able to do so in the state where the transaction took place so you must be registered in that state with an agent who can accept legal service on your entity, should the need arise.