For those that it does not deter, running things this way greatly enhances your odds of winning those lawsuits.

As a bankruptcy lawyer, I find your post inaccurate and only perpetuates myths about bankruptcy. 

Now I have to give credit where credit is due, this my take on the process detailed out in Michael Gerber's book the E-Myth.

A great, quick read to do this is The E-Myth Revisited.  

But if your intent is to enhance the rentability of a property you have held and rented for 2+ years you're probably fine.Your basis at the end will end up being around 900K (current plus improvements).  

If you want to try renting it out for a while to capture some more equity build then keep an eye on the calendar so you can still consummate your sale so that you have lived in the house for 2 out of the previous 5 years (in other words don't own it more than 3 years after you move out).Many investors work hard to go the other direction and convert investment real estate into their primary residences for the incredible tax break.Couple this strategy with 1031 exchanges on your investment real estate and you will enjoy some nicely enhanced returns.

A vocational or professional education in an industry is always based on acceptable practice to enhance skills and knowledge to succeed.

As much as people love to preach the myth that "cash flow is king."

And also think about book like The Millionaire Next Door that debunk myths about wealth in the US (a bit dated, but the book's data tells us someone like a landlord in the old pickup in overalls mowing the lawn at the duplexes may be your high net worth person in America; not the flashy professional investor guy in the high end luxury sedan with a Rolex).....

Paul Munley welcome to BP, let me know if I can enhance your team at all.