Other than it being a additional cost to do business and financing being more difficult under a LLC as long as you have adequate insurance coverage there is little other difference. 

I wanted to throw the numbers out there to see if you all had any advice or if I was missing something.It’s a duplex, electric is separate but gas and water are shared.Purchase Price: 71,000Annual rent: 18,600Annual insurance: 1,200(est.)Taxes: 2,883Garbage: 290Vacancy: 1,860(10%)Maintenance: 1,860(10%)Management: 1,116(6%) 775 placement fee (50% one months rent)Capex: 930(5%)Total: 10,914Annual mortgage: 3,453.6018,600-14,367.60=4,232.40 cash flowUnfortunately management is a must since it is long distance.

It is a duplex, electric is separate but water and gas are not.Purchase price: 71,000Annual Rent:18,600EXPENSESVacancy:1,860(10%)Maint:1,860(10%)Managment:1116(6%)    750(placement fee 50% of rent)Capex:930(5%)Insurance:1200(est.)Taxes:2,883Garbage:290Total:10,889Annual Mort:3,453.6018,600-14,342.60=4,257.40 cashflowSeems like it could work, i am thinking i will have to bill the tenants for gas/water/sewer after I get the bill. 

Auto liens are pretty stable investment if you can find them .. of course its with used car dealers usually or its sub prime and really sub prime.. but with the new tech they can put in buyers of sub prime cars..

I made a claim with my insurance company. 

I would make sure you have a hefty umbrella liability insurance policy and that should suffice.

I'd only pay the monthly landlord insurance (roughly $120) and snow/grass.I don't have the funds to extend an all cash offer but am contemplating working with a hard money lender.

They will have property taxes, insurance, upkeep and liability.

2) will my rental home insurance cover my tenant's damaged car?

Liability and umbrella insurance policy should be sufficient.