I self manage both of my local properties and its really not that hard once things go on "auto pilot", which if you do things right is most of the time.

If they're worried about forgetting to pay sometimes, they could set up some sort of auto-pay out of a dedicated bank account they have set up just for rent. 

@Oscar Beteta I use Allstate for my home, auto, landlord, and umbrella insurance.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

To answer your question about financial advisers, its easier for common people to invest in mutual funds and the stock market. it's more liquid, and all you need to do is buy a mutual fund. not much research required. you just set it on auto pilot. 

I created my own auto reconditioning business three years ago which ultimately has been a financial blessing to my family.

Detroit is heavily reliant on the auto industry, but it's not all we have!

Be especially careful charging a tenant for the entire cost of carpet when the carpets are like 10 years oldPicture or pin holes in walls, as long as not excessive Painting the exterior of the homePressure washing unless there are oil stains from their auto Routine maintenance There are many more circumstances that could and will come into play, but lets all work together to come to a resolution.

Why would the lender give up some of their protection for the loan.If you want to put the property into the LLC to limit liability in case of accident, etc. so that if the property is sued only the LLC's assets can be gone after, suggest to the lender that the property be transferred to the LLC and you sign an addendum as an individual essentially as co-signer guaranteeing payment.As others suggested consult a RE attorney.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.