The concern with places like Irvington will be once you move out and no longer owner occupy how do you raise rents legally.   

The roofer gave me a invoice with high level bill of material, and a statement that it has 2 years of warranty and brand name of the shingles.It does not say brand name warranty or model or batch number etc. 

The other thing to consider is the age and if you add a second floor will the entire structure need to be brought up to code for hurricane and wind.I live in a neighborhood where the homes are older (not in florida) and the foundations are hollow core CMU and adding a second floor would not be feasible due to soil bearing.

Here you would sell to someone that can run their business form the home or the garage/workshop if that’s allowed by local code. 

(It's up to you to figure it out.)

Basically we are looking to reduce our risk and if it defaults understand we would be coming after everything and anything.

Look up the local wholesalers in the area. 

Thank you Tim, Sorry for the late response 

Hi Tiffany - Welcome to the BP community!

I would set up a family trust, if you have a ton of equity maybe you refi the properties into an LLC but if you are locked in with lower rates then I wouldn't touch the ownership piece yet.