Two things to keep in mind when searching this area for STR properties; the first being FR/WC is peppered with HOAs that have unfavorable regulations for STRs and secondly cell service all but disappears in the southern half of the county.

Now it may be different in CO and more development based, but usually (or historically) when you're going in to buy these 'cherry' or prime lots, it's not unheard of to also need to buy an outlaying or unfavorable lot as well. 

You could possibly refi your PI down to favorably impact your DCSR calc.Or the bank is in a more favorable debt to equity position that they will refi even with an unfavorable DCSR value.  

Going to parts of Philly that cashflow isn't always the best solution either due to unfavorable landlord laws.

Are there other methods to legally protect myself in a sole proprietorship from an unfavorable tenant's lawsuit?

I have heard many of things about buying in Oakland, given its unfavorable landlord laws, and strong tenant laws.

., that are very unfavorable to visitors. 

Melbourne has been a solidly growing community in Brevard county for more than a decade now, so buying here is extremely unlikely to be unfavorable in the near future.

Just selling shares to buy RE may force your hand to pay short term cap gains, or take losses during a market cycle that is unfavorable.

Once you go above about 200k ARV the rents tend to not keep up making rent/price ratios more unfavorable for the refi on the backend.