After that you can still get quite a few 30-year fixed rate loans, just not under the FNMA umbrella.

@Tomer Shani If you are worried about liability, why not just purchase insurance with a high liability coverage, or get an umbrella policy to increase your liability. 

A good umbrella insurance policy can sometimes accomplish the same goals.

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Florida is around $125 annually...I really think, in general, an umbrella policy is sufficient for the first 5 - 10 Residential doors.

This is in addition to an umbrella policy.

For a fraction of the California cost of creating and maintaining an LLC (at least $800 per year) , I purchase an Umbrella policy and have all my assets and personal liability covered up to 2 million.

Maybe nowhere on the Internet are there more views and opinions on this topic than  bp...there is also a large group that goes with landlord policy and an umbrella for encumbered residential rentals, too....best of luck..

Hi ExpertsI have multiple residential rentals in FL and have recently got a letter from my current Personal umbrella provider (Allstate) that for it to continue, I need to have all my rentals insured with them (I don't have any insured with them today), plus there is a limit on the number of properties which I can have under one umbrella (I have more).

@Thomas Kwan  While I have never come across a 401k being pierced since it falls under the trust umbrella for lawsuits brought against the plan assets, some will invest the solo 401k funds in an LLC thinking that they will get an extra layer of protection.