Hi Michael, rates are certainly higher now compared to 2020-2021 so what you're hearing about rates is accurate.I would ask the lender to show you side by side comparisons for the following scenarios so you can see the numbers:1) Conventional "Rate-Term" (no cash out to remove PMI only)2) Conventional "Cash Out" up to 80% LTV with 22k Cash Out3) FHA Cash Out Refi up to 80% LTV depending if you have a lower credit score (say anything under 680-700), it may make sense to consider an FHA  (but ONLY if there's a real financial need since you would unfortunately still have monthly PMI on FHA and the Upfront MIP regardless of the equity).FYI, you need 20% equity / 80% Loan to Value on Cash Out so the Appraisal value will be key.

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.

Normally I would consider an immediate flip for better cash flow, but that becomes prohibitively expensive and complicated for several homes at once.

But, correct me if I'm wrong, wouldn't you have to consider an additional 12% SC rental tax off the gross income, or is that factored in the management fee, or do I maybe have the wrong interpretation of the SC rental tax? 

Would you only buy an investment property if it was listed on the MLS or would you consider an off market deal?

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.

Before you consider an LLC make sure you are properly insured.

Once you hit 10 loans in your name however things change and youll need to consider an LLC or other entity.

They won't consider an apartment if its basement level?

Then I would consider an umbrella insurance policy to increase coverage over all your properties.