@Garrett Canter Most umbrella policies provide limits in excess of general liability, automobile and employers liability.

People are delinquent on mortgages during divorces, have late payments on automobiles here and there and especially medical/college loans.

In other words, even if a property is freshly remodeled does NOT make you immune to all those expenses ... if you hold onto the property long enough (as you well should as a buy and hold investor), then sooner or later those items are going to need to be replaced and are going to cost money to replace ... if that money does not come from CapEx reserves taken out over time as a CapEx expense in the budget, then where else would the money come from?

My reason for paying off loan debt early is student loans aren't immune to bankruptcy (just being cautious) and I like having less overhead per month in my expenses.

what I know is if you take the course you too can own a Lambo Hurricane. just like the clever investor... its one thing to get a real mentor type relationship that you pay for @Gino Barbaro  I don't know Gino personally or anything about his mentorship programs.. but I do see that he does not lead with his automobile or his airplane or any other trappings of success...

Stress causes physical problems such as depressed immune systems that can make one vulnerable to infections, flu, and even cancer.

Ask a lawyer ANY question and the answer will always result in a recommendation which will require some legal service (and their fees).Don't get paranoid on "Asset Protection" - - just forming the legal entity and getting title in that name does not inhibit lawsuits nor insure you're immune from losses.Then there's the practicality of getting a loan in the entity name - - not trivial. 

Liens:17k for automobile (co signed for stepson, haven't seem him or the vehicle in years) 20k in medical3500 in non negotiable taxes and city liens for cleanup.1.

I'm not sure if the qualification requirements are similar or not but I would assume they would be a bit stricter and tighter on a home loan than an automobile.

On the risk mitigation front, no matter the market or how strong it looks, I always assume that it will crash the day after I close escrow, and if that would put me into serious financial trouble, I'm not closing ... and as your example on PHX and your buddy's 4-plexes illustrates, cash flow is not some magic wand that single handedly makes you immune from any and all risks (as some newbies seem to think), though it is an important part of the equation, and the quality of that cash flow is every bit as important as the quantity.