Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

I think it would, depending on the celebrity of course. 

Of course, he is free to come here and prove me wrong.

do not use a line of credit for a down payment. 

Set aside a big pile of cash or rely on a line of credit you won't be using.The oversimplified insurance concept is to pay a small premium to cover a large loss.

Forget the course and put that money on a quality vacation short-term rental.  

Local credit union.

I had belatedly realized that FHA goes off personal credit and therefore I couldn't use the LLC for it.

There are many ways to attempt to collect your loss:  file a small claims complaint against them; get a judgement so you can garnish future wages/bank accounts - and the judgement will be recorded in the credit bureau. 

Quote from @Zach Edelman: If you do a DSCR loan and vest it in an entity - you and your partner can both PG the note and it will report to neither of your credit reports, thus having no impact on your DTI!