Ultimately my down payment is bigger than $7000, so it is completely a psychological play.

So there's also some psychology of the search that comes into play as well. 

I have been discouraged by other real estate agents from entering the field due to high student loan payments (Bachelors in Psychology) but that is why I have not quit my "day job."

I alternated books - one substantive/topical (I'm an international affairs guy), one leadership/motivational/spiritual, and one which I call "mind-expanding" which teaches the mind to think outside the box (e.g. anything by Malcolm Gladwell, Freakonomics, certain business or sociology/psychology-related books). 

That would either be due to none having required the protection or the LLC failed to protect and they are no longer on PB.My guess is that in the real world a LLC is more for psychological protection.

People, psychologically speaking, are drawn to such programs because it lets them feel like they are accomplishing something without actually accomplishing anything.  

What is your psychology on the matter?

As a former wealth banker, it is nothing new and it's all just psychological and financial warfare on consumer spending. 

For a HML or private lender, should the deal go bad, a 1040 or W2 isn't going to mitigate your risk although it may have provided a little psychological balm initially.  

New investors often have a big psychological problem with taking on debt via mortgages (even if your tenants will be paying it down), so being honest about risk tolerance is huge.