Just because nothing serious has happened, doesn't mean it won't happen.I am not trying to be a jerk about it, but I would be concerned for that once in a lifetime issue that comes up and finds you selling everything and going bankrupt.

Most over leveraged owners are like addicted gamblers, they don't believe they have a problem (over leveraged) until the market turns and they go broke/bankrupt.

Too bad she'll also strip us of our ability to count depreciation against income and uhh, I don't bankrupt the country even faster than it's already being bankrupted

If you ever plan on doing this later in your days, you could always do a management company and just expand on that, but I can tell you from my own perspective  that LLC – S and being W2 employee under that may limit some of your lending aspects, but it protects you around the world anywhere you go further if it comes to it, you can bankrupt your company, sell the assets and open another company the same way and you’re still protected through and through. as my wife is a high earner, it really protects her from civil suits and other things like that or anybody that ever comes to maliciously take what is yours.

I have seen on my last trip to New York City formerly bankrupt hotels recover and make a ton of revenue off illegal immigrants.

You are one failed AC/roof/6 month eviction from going bankrupt.

As a retired CPA, I have seen more than my share of bankrupted RE investors who were over leveraged with many properties.All the more reason to emphasize developing good due diligence practices, having some skin in the game and staying on top of legal requirements, maintenance, finance and tenant screening criteria.

All of my rentals are stuck using Louisiana Citizens Insurance (state sponsored and 3x what I was paying before the insurance companies all either pulled out or went bankrupt). 

There were a lot of bankrupt arbitragers over the last 2 years.

Louisville MSD just increased rates 7% again and this year we are averaging $700/month between water+sewer bill which has basically bankrupt the association as all prior years were budgeted for half of this.