, and could make me personally vulnerable by intertwining my finances with the LLC's. 

Do you agree with the rest of the assessment, that otherwise your are vulnerable?

Small cities can be vulnerable too, and it is often difficult to assess the health of a dominant employer.

The way I understand it, a regular LLC in Illinois: $500 setup Articles of Organization, $250 annual fee, all properties within LLC are vulnerable to the others.

It felt vulnerable to me so took a shot with 'as-is' offer.

I think that's the only place there is a potential vulnerability for us, but all investments come with some degree of risk I suppose.

Of note, interest rates are an influencer rather than a driver (eg interest rates in the us were low at the time of the crash).Their are a lot of purpose built student housing units being built in Waterloo so there could be an over supply issue with student housing there.Edwin Szeto interviewed Tom Karadza on his podcast recently and he spoke about starter homes being less vulnerable to slumps because there is still demand for them and they go down in value less...thought that was an interesting observation.

Assessing which areas are more vulnerable and getting them as "hurricane-proof" as possible may be a good strategy to lower premiums yet feel protected. 

Typically, they target the elderly or what I would consider a vulnerable group to part with their equity (not always). 

Fear shows vulnerability, and while everyone has it, no one really wants to talk about it or admit it.