Any recommendations on how to protect myself?

I should add, I am not sure how much we spend in beer at the local watering holes where our contractors hang out.

There was a time in the 70s the nation was in massive recession but due to mainly defense spending SoCal was still very bullish and prices doubled while the rest were in a tail spin, especially places like NYC were looking very bearish.

In addition, this is a C class apartment, where would you spend your focus and money to raise value?

If you put the property in the LLC and it is properly formed and operated then your personal assets should be protected.

The primary advantage for most is the psychological security that comes with believing it will better protect your assets.

Will the property reach your ROI and cashflow goals if you have to spend more money than you planned after closing?

He wasn't spending any money, and with his hazard pay he was making decent income.

I would rather not spend tons of money on a hotel or, god forbid, an apartment while I house hunt.

I can then spend that money on whatever I deem appropriate.