I like this reply. I want to add a few extras here. You need to own properties in a state with excellent charge order protection on an LLC. Michigan is really good. There are about 15 other states. Court rooms/lawyers/business/banks all know that there has to be a guarantor on the mortgage loan. Especially, new residential rental property landlords. They take all of that into account in the courtroom. A plaintiff lawyer can try and show this fault, but the reality is that almost every landlord out there, including commercial property landlords all have mortgages. In court, they are going to be looking more at all of the bank records and accounting records. Making sure that the landlord isn't mixing up business with personal accounts. Also, making sure you are up on your state filing status, and making sure the property would pass inspections compared to other "reasonable, comparable properties for safety," in the area. Don't let people tell you all of this garbage. There would not be any landlords, to provide housing for people, if that was all the real case. Every landlord would have to save up for cash on every property and with this most would only be able to afford a few. Also, don't listen to anyone telling you that you need to have a trust to have all of your LLCs filtered through. It is a waste of time. A trustee can be subpoenaed and the beneficiary will be found out anyway. In today's high tech world, investigative, and in the court world that person, or entity can be found.
