2) It seems as though you are unsure of what you are looking for or that you've been exposed to the right deals!

I became worried about  being fully exposed in the market and became concerned about giving up all profits if the market quickly shifted.  

No landlord or tenant should be exposed to hostility from each other.

Are they doing everything they can to expose properties to the widest possible market?

We board up the back and side, but leave the front exposed for curb appeal.

If you want to voluntarily expose yourself to additional risk (based on actuarial data, not anecdotal evidence about dogs you've personally owned), then that is your right as a business owner.The issue is that this breed comes with it an inordinate amount of risk compared to the relatively small benefit of allowing them.You've heard the reasons people (and their insurance carriers) have for excluding them. 

@Pat L. people like to cook on gas but it is not the same having propane vs  natural gas.

There are calculators online that will compare your electric rate to fuel oil or propane.

Hi Hunter,You will have less risk in the same investment with $40,000 liquid or $60,000 liquid.If you go all in with your $20K you will have no personal cash reserves for CAPEX (worn out things that need replacing when after its rented) or hard times (longer than expected vacancies).Maybe think about saving some more and not getting into any more debt than you already have.It's better to be bullet resistant than fully exposed if you have a choice.And don't make any loans to anyone for anything (friends, family, girlfriend, etc...)Just park in an FDIC insured CD until you know exactly what you want to do with it.Good Luck!

If you own everything in your personal name and there is a law suit against you personally then those properties would be exposed and vulnerable to the suit.