Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

I've got a house that sleeps 8, and thought about putting it on the concrete slab in the back yard. 

I added 4th bedrooms to all of my properties by converting the garages, but most of the time that 4th bedroom was never even used or disturbed by guests.If you're don't have a 4th bedroom, you can still sleep some additional people with a blow up mattress or a pull out couch.More important than the pool and 4th bedroom is location though. 

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Their reasons for coming tell a story and people are usually pretty open about their plans.If they put only 2 people for our home which sleeps 10-12, I am suspicious and I ask.

My goal is to get the house in my LLC so that I can sleep easier as it relates to liability.  

Thoughts , ideas will be appreciated  Chris -- read the above replies to understand why there isn't sufficient detail to offer opinions on where to put the money.  

Im new to this and work third shift with two kids to raise so time is very thin since I'm awake while everyone else sleeps.  

Granted that was within a month of the first house but I read that qualified as sufficient reason to move and I was allowed to rent out the house early.