But I personally think it's okay to wait until you have assets that need protecting before you start worrying too much about asset protection.If you do form an LLC, you would be able to open a bank account in the LLC's name and you would be the signatory for that account.

Hey Nick Brubaker you should use Buyers Protection Group and request Richard Chastain.

Many times the debate isn't really about the legality, but about conforming with lenders rules and/or consumer protection acts.

If I had a rule #2, it would probably be to protect my personal home and security - and this move would put that at risk.Using a HELOC to support investing can work, and it can be a good idea.  

I can see this would be great if the renters were being protected, for instance, by rent increase limits.

What should j look for in the paperwork so I'm protected?

Working with friends and family can be a hassle however when you have sound business plan in place that protects your assets  you should be find.

On the topic of using Insurance, LLCs, SCorps,Trusts, etc for asset protection. 

I really don't have any assets to protect right now!

However, the money is well protected and not loosely given to members of my family.