But if you have followed the rules, keep your place safe, and have no real just cause for them to "go after" your personal property, is it common for frivolous lawsuits to move forward,  and has anyone (that you know of) been burned by not having an LLC because of this (lost it all)? 

I think you are getting burned on the refi costs, but maybe I don't know the whole story. 

We usually do $50 more for month to month, but with my leases mostly at $1400 or more, that would be more like $350 per month so seems like it could create some heart burn for tenants. 

Some people have a hard time managing their money, and a large lump sum will burn a hole in their pocket quickly.I have had tenants that were not meeting the W2 income requirement, but had large savings and/or brokerage accounts that were quite sufficient to cover the rent, and it was also showing good money management skills.

@Kenia Crevoisier as a fellow investor out here in Miami the only time I have ever been really burned for shoddy work was when I foolishly allowed myself to go with a contractor's cheaper NO PERMIT option.

You might as well burn the money. 

The cabin would burn to the ground sometime between 2 and 3am that night. 

We burned the limbs and stumps.

If I expected any house to burn, it would be that one. 

You get all the glory if it succeeds, but you get all the disgrace if it crashes and burns.