Also, things tend to play out better when you have had a dress rehearsal (as the government did in 2008-09).There is no substitute for liquidity at times like this, but your point is a good one: how much is enough? 

An LLC is not a substitute for liability insurance. 

There are all kinds of trusts, but typically what I see is X property transferred to the trust before death, trust names trustees to control it and substitute trustees to take over at their death. 

Over the years we have assigned apartment houses (one was 250 units) a night club, bars, a subdivision and many lots and a ton of houses.I am a little slower now at 78 years old but still do deals all the time, it's easier now and still profitable.I prefer partnering with others out of state using radio and power prospecting systems to find the equity packed transactions.Learn creative financing; subject to, front porch financing, delayed down payments, nothing down techniques, auction marketing, money back and creative partnering, vertical break up offers and delayed settlements  rolling options, split notes, creation of paper and substitution of collateral - to mention a few. 

If your sole consideration is the need or desire to self-manage your investment property, then buy locally.The principle of substitution states that the upper limit of value tends to be set by the cost of acquiring an equally desirable substitute, assuming no untimely delays.

The only three options are to do it their way, Substitute a new Qi which there is a process for but it costs you and they still have to cooperate. 

You can also substitute calcium or magnesium chloride for the salt and it works incredibly well, but that gets expensive.

It is used as substitute for the loan incase borrower doesn't repay the loan.Please let me know if you have any other questions.

Just because the applicant is nice and communicates well, doesn't substitute for meeting the criteria.

There's no substitute for driving markets, meeting with brokers and property managers and rigorous underwriting.