If this loan goes too long, he won't repay you because it will get too expensive.I would be careful with this scenario, even though you trust the guy.Also, a good thing to remember is that pigs get fat, but hogs get slaughtered. 

I have a Weber Genesis II 3 burner setup.

There are many reasons why folks move to the metro but the most important reason is that Austin is a job creating machine with open arms to entrepreneurs and also giving fat tax rebates to the big companies like Tesla.

Stairs to basement broken, hot water tank not working for months, broken windows, one burner on the stove working, etc.

The brownie, a quart of chocolate milk, a 5th of Kahlua.I mean i'm fat and i eat most things, but i'd be pretty excited over that setup!

"Pigs get fat, hogs get slaughtered" 

Being out of state it's easy for you to get thrown on the back burner.

In my layman's mind, that basically pierces your corporate veil and now you are sitting there "fat and happy" thinking you have the asset protection of the LLC but actually don't. 

How do you access that kind of money and have it sitting on the back burner for when you find a deal?

I suspect a fat umbrella policy will have you coming ahead financially while still offering significant liability protection. :)