I think these people that you speak of are just shooting their shot going for the Hail Mary throw.

Also, I see that you're in Columbia, but if you feel like making the ride down to Charleston, REI Central is tomorrow night and would be well worth your time.

Your biggest insurance concern would likely be hail and the possibility of totaling your roof.

Ride out the W-2 a few more years and acquire as much real estate as you can.

P.S I got both the properties from builder's lender at around 6% for 30 YR fixed and will be planning for Cash out refinance on 1st property to get 70-80% of my down payment money back and invest those in getting more properties.For new construction, I am pretty much confident with my previous experiences and will be a smooth ride for me.

Quote from @Hai Le: Am I allowed to ask for a tenants vehicle information to add to their file? 

It's a wild ride, but if you hustle smart, that 9-5 could become a thing of the past.

It's great buying in 2012 and riding it until 2022 with leverage. 10X your money, but might be good to get out after a while, I have another thread about that.

Can we ride on our credit for some of the ownership or would we need to put in $$ for the financing, too?

Most long-term sponsors know downturns happen periodically and that's why they run for 7-10 years plus (to give time to ride it out, valuations to recover and sell at a better point).