@Geo CruzBased off information given, if you pay anywhere close to market value there is zero percent chance that property will cashflow as a standard rental.

You determine if you need the policy according to your investment strategy, assets in teh LLC, and risk tolerance. 

Cozy.co is what I use to collect rent and bill tenants for any maintenance issues (not due to general wear and tear).You can also use it to track maintenance requests, screen tenants, have them record insurance policies, etc.Did I mention it was free?

Is it similar to a conventional loan where you have to put a down payment or can you do zero down if the seller agrees?

His bigger worry is that supposedly if they adopt the Kansas City policies that if you have to evict someone you now have to pay their eviction fees/lawyer fees?!

That, and I have absolutely zero tolerance for evictions or bankruptcies.

How should that protection be modified as you start to add multiple properties to your portfolio (umbrella policies/etc.)? 

While there is no doubt, I have not seen it all, I do feel like I have seen enough to have built up a tolerance.

While there is no doubt, I have not seen it all, I do feel like I have seen enough to have built up a tolerance.

@Pip Pritcard yikes thats pretty steep. thought theyd have come down with fed funds rate at zero...