There's always liability involved, but again, I just don't see it costing $15k. 

The LLC offers several benefits. (1a) It separates the liability between you to your investment and (1b) vice versa from the investment to you. (2) It separates your partner's personal liability from the property. (3) It allows you to create an operating agreement that allows you to establish protocol for different situations (what happens if it loses money for too long and someone wants to pull out?)

What is keeping me from bypassing someone like Matt, getting my GC license and the $50k liability insurance and getting contractor pricing myself ?   

I thought the point of RD-PD was to build assets while avoiding liabilities? 

I think the coverages are $5000 in damages, 1 million in liability for $50 per month.

Assuming I owe 25% in an LLC that owns and operates a hotel, I take into account the value of the property (25% of my share worth) BUT do I also take into account liability which is the mortgage loan amount issued to the hotel as well (25% my share of loan amt)?

See https://www.ny.gov/services/start-limited-liability-company-llc .

Remember that you didn't just inherit an income stream, you inherited a business along with liability.

Hi @Krishonda Johnson, often times property owners (especially those of investment properties) will shift those assets into an LLC (Limited Liability Company) to protect themselves, as well as their names from being contacted. 

Here's why:"An LLC for real estate is an established legal entity that allows investors to purchase and own real estate in such a way that protects them from personal liability.