For my wife and I, we would continue this process until 20% of the dividends exceeded our desired future living expenses, and donate a vast majority towards worthy causes.Lastly, we would also use a tax levered savings vehicle for the long-term “storage” of our money as well.

Leveraging WLI as a place to store excess cash, generating better returns/dividends than a savings account, AND taking a loan out for ANOTHER investment vehicle WHILE retaining your accounts interest/dividends seems like an advantageous setup for someone with the capital and discipline to do so.

They make a civic look like an off road vehicle.

It is becoming more and move of an investment vehicle and whether it is a good strategy can be debated, but there are definitely people making good deals from this strategy in my opinion.

I drive a 95 nissan pick-up, Paid for, good milege Why spend 50k on a fancy car that will go down in value ( not counting collector vehicles) I would rather spent 50k on a down payment on more real estate for more cash flow

That's if we're thinking strictly Houston, but for such a budget I'd put that money in a diff city or diff investment vehicle.

The umbrella provides coverage over the primary policies (provided you have the required Liability limits on those policies) for those vehicles as well. 

When you apply for a home loan we only look at the monthly payment and on student loans we only hit you with .50% of the payment or in some cases if it is deferred for 12 months we can ignore it all together depending on the program you choose, for example; FHA, Fannie Mae, Portfolio etc.Another trick is if the installment loan on a car/vehicle only has (10) months of payments remaining or less we can "Omit" it all together.

NOT LEGAL ADVICEYou need to set out what your goals are to begin with in setting these vehicles up.

Would tax liens be a better vehicle for that?