The Federal government requires you to have the ability to repay said loan and that means you need to have either adequate & stable income or assets that exceed the purchase price. 

To me its a law of supply and demand there is adequate supply now just no demand for it due to Covid.

If you are investing and made disciplined purchases that perform well as rental and you are not over leveraged with adequate cash reserves, then I am quessing you can probably weather what ever storm is ahead.   

We don't have anything close to adequate medical capacity without containment.

Being that you’re asking on BP, you may not be experienced enough to know all of the risks and adequately mitigate them in the event of a downturn.

Do I need to form an LLC or is just an umbrella policy adequate?  

If you maintain your roof adequately you can increase your deductible just for wind/hail related claims which will substantially lower your premiums. 

But its a true asset based loan, no personal credit or income verification (only bank statements to show adequate reserves) and no DTI.

This also cuts both ways; if they wanted to terminate your lease, they would be required to abide by the contract and give you the same notice, giving you (hopefully) adequate time to find a new place to live. 

Currently I'm navigating all of the various associations to see if I can get an adequate amount of training and where to get it.