You don't need anything fancy for your first rental property.Expanded answer:Google "legal structures for direct ownership real estate" and do some reading to learn what each structure offers and the limitations.

Nothing fires up a tenant like legal notices, especially hirer income people who have never got one in their lives.

I actively minimize cash flow because it is taxed in the year earned (I try to legally minimize my taxes).  

I chose to do this even though I had no legal personal responsibility for their losses.

The challenge is adjusting policies so they are legally compliant while still protecting your investment.

However I agree with the Motion for summary judgment surrounding the QUIET TITLE action affirmed its likely NOT a collectable debt and YES we are getting a more firm legal opinion on that... 

It will stay as a cloud until the contract closes and both parties file a release; the contract falls apart, settling the dispute, and a mutual agreement to release occurs or a court orders it; the filed memorandum is invalidated for legal reasons.Most title companies will require a release before insuring title. 

What legal rights do I have?  

Some lenders stick to 1.20+ DSCR, but others allow lower with strong compensating factors. What’s the lowest DSCR you’ve actually seen funded?

Not a legal question — just trying to get a sense of what other owners are doing.