I do feel that stress testing a balance sheet is the only way to really look at systemic and catastrophic risk, especially in situations where effects of risk to repay is not independent. 

What the state courts will look at in the state you are sued in that does not have a Series LLC is the "Independent Liability Shield" of that State for LLCs and its protection for member owners.

I purchased my first duplex in Independence, MO in October 2018 and currently owner-occupy one unit and rent the other.

You can take advantage of the low downpayment with an FHA loan.It would also help to know what area you live in. Depending

I partnered on an SFH in the Independence area earlier this year.

You want to investigate everything independently from what the owner might tell you. 

I had to repeatedly travel back to the house over and over for meetings with a specific firm of plumbers that the HOA insisted come there with the brief to persuade me to believe I had pipes leaking under my slab foundation - and push me to pay them for extensive unnecessary works.The previous (independent) pumpers and the engineer had already explored all this and confirmed no such issues The Board started inviting me to take part in the morning meetings they set up monthly to argue with homeowners who have broken rules. 

You know what they say.....Some people don't know what they don't know.sometimes I think civilians don't realize that real estate brokers are independent contractors and do not work at their pleasure. its the other way around.. 

I have seen 5 year runs where people who bet on appreciation Win big only to lose everything when markets turn.So count me in the Buy positive cash flow properties only.Financial Independence = conservative Financing and long term hold

I have not reached full financial Independence but live very comfortable in Fresno CA.