They are more used as entry level protection and a deterrent to hopefully drive up litigation costs and cut some of the legs off of any money the PL will get. they are good, they get the asset out of your personal name, which is what you want, but you also have to look at perception and what a judge will say if you are challenged in court in a state with no S-LLC legislation. they won't give two cents. 

Like hey you cannot be successful without a few nos and doors being slammed in your face, right? 

I know the more nos I get the close I get to a yes however I have been at this for 1.5 years and still cannot find a multi.The next issue I am having is long term financing.

Also, it must be a cash buyer as time is of the essence, since I will be working with homeowners in NOS stage.

No s**t?

I got a lot of nos from local commercial lenders until I found banks that were willing to work with me.

I used to target homeowners in foreclosure, in the NOS stage.

@Michael Doherty Congratulations.. the nos all look good

I look for things that indicate the person posting the ad probably isn't a professional landlord, like:fair housing no nos like "perfect for singles or couples" which means the person isn't familiar with fair housing rules.

If these are firm nos from the tenant, bad sign.