Saves lot of fighting and legal troubles later, I understand.Looking forward to the responses by more experienced investors!

If you have a good deal your buyers will fight over buying it.

Therefore you’ll spend more money fighting this more likely than it would be to repair

It should be headed for a recession because that’s what the fed wants to fight inflation.

This is quite a lot to take on starting out, and unless you have experience in this area you could be fighting an uphill battle the whole way. 

Data aggregators like Corelogic know the estimated market value of the house and the mortgage debt outstanding.

(Not giving legal advice I'm an insurance agent not an attorney) If you are sued and they allege negligence on your part they can pierce the LLC protection anyway is my understanding but you have to ask your attorney about that part.My bigger worry is in a claim situation with you having a policy in your personal name but the legal ownership in an LLC is the potential for the claim to be denied (at first) for not having insurable interest - you could fight thru to show you are the owner of the LLC thus the property owner and have an "insurable interest" entitling you to coverage BUT... do you really want to jump thru those hoops if the house burns down?

Things like tax liens, possible issues with liens for things like lawn maintenance or code violations, and if there are anything outstanding with the sellers that needs to be paid (think judgements or IRS tax liens). 

Beg your hard money lender will take second position on the outstanding balance.

Both are in outstanding condition and everything is currently going great with tenants, etc.