A refinance into an LLC avoids this risk but typically requires a commercial loan with higher rates and stricter terms.If asset protection is the main goal, umbrella insurance may suffice without disrupting financing.

Just curious what that market is like and if this is good idea for the area and what rates are like.

(You’ll pay higher interest because it’s a rental property, and, if you try to do it in a corporation/LLC you’ll pay an even higher interest rate.)

Feel free to take or leave my advice, but I think others will agree that, for now, you should focus on maximizing your savings rate, building your credit, paying off any owed debt, and house hack your first deal—just my two cents.

Because the interest rates were so low, I was able to keep the same mortgage payment cost we had before but for both houses with a shorter term! 

If you want to stay in your house, then your only option would be to leverage equity which will probably be in the 8-10% interest rate range.Not knowing the entire situation, I think you could consider downsizing and then using the proceeds to buy a 2-4 unit property and start making $40-75K right away with still no debt. 

His story is inspiring, but don't expect to have the same results with today's high prices, high interest rates, and thick competition. 

Also I've been lending on quite a few deals in the area you're talking about since the hurricane how have insurance rates been looking in that area for you?

I recently pre-qualified with them and was told the interest rates are all the same (6.0%).

Funny, I used to enjoy it,  but now (in Seattle) I feel its a trap waiting to happen.