So, many people choose to operate in their own personal name but buy an additional umbrella policy to protect themselves from liability.

That is an additional savings. 4.

That quote will be the basis for any additional damage request. 

I don't have time to keep going back and forth here; you are welcome to contact me directly for additional details.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

Quote from @Tim Buckingham: @Jonathan Moody Good information but I'd like to add some additional points (note that your mileage will vary due to numerous variables). 

Considering that, you are likely going to see appreciation year over year, which essentially will be additional equity you'd capture just by simply living in the home. 

If you sell a property, and do a 1031 exchange with the proceeds, but don't need all the proceeds for the down payment of the next property, are you taxed on the additional profit that isn't part of the exchange?

Additionally, I wanted to begin using properties to pull equity to go towards buying more.