Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

My best deals I am analyzing right now that make sense either need a pretty big rehab or finding a dated home in a market that hit the target metrics for what I personally consider an "up and coming" market.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

I believe the only way I will consider an investor on my first property is to help with the down payment.

@Aaron BardSo, you are approved for an FHA loan (aka FHA 203b) and some of the properties you've looked at do not qualify for the traditional FHA loan because their current condition does not meet FHA's Minimum Property Requirements (MPR).Maybe, consider an FHA 203k, which is an FHA loan but it allows you to add into your FHA loan the cost to correct those deficiencies and other rehab that you may want to do, close on the deal in it's as-is condition, and correct those items AFTER you own the property!

I personally did not and found the book almost insulting because the narrative comes off very condescending while also not providing anything that I would consider an original thought. 

I don't know if the property has been on the market for a while or what, but if you think there is time, or the seller would consider an offer with financing, contact your local banks to see if any will lend on it in an LLC.  

Would you consider an FHA203k loan?

Even a "job" I would consider an investment.

Consider an alarm or video recording system.