The Paycheck Protection Program (PPP) may be available to certain landlords who have payroll.

It just doesn't happen.... instead, we hear sob stories about how tenants are suffering at the hands of their evil landlords and governments step in to provide 'protection'.  

They will usually require the following coverages;  Property, General Liability & Loss of Rents.All 3 of the above coverages are the foundation of most landlord insurance policies.In regards to hiring the PM, you still want all of these coverages under your own policy to protect your interest. 

So I can protect (financially) myself and family from a law sue.2.

This gives investors added protection should the virus affect their health or financial situation during the term of the contract.That being said, the best course of action right now is to gather the information you need.

I assume that they're protected by the eviction moratorium too.

We know Trump has staved evictions for some non-paying renters for now (hud/fha properties - protecting those losing income or experiencing financial hardship due to the pandemic).

I understand I may not have the same borrower protection rights as I would if the mortgage was a conventional loan, and I'm not going to have my bank put a stop or hold on the payment, I just thought it was strange.

Offer to have your attorney draw up a note and records the loan to protect him.

Opening an LLC at first in my opinion would depend on the type on investment, like is it highly leveraged or do you and your wife have a lot of assets that you need to be protected from this investment.