@Adam Rasmussen, @Ronan Donnelly or others,So far I fall well within the <100,000K to reap those loses up to 25K, which are great.

My biggest concern is protecting myself, if someone decides to "trip and fall". 

I’ve been planning on moving out of California to Texas this Fall 2020 (ie Nov / Dec).

The narrowest definition would entail having title pass with a contract rather than a deed recording.A good legal mind may be able to sufficiently “message” your docs so you fall within the agency reps.

Once it falls behind its not guaranteed more than anyone else.

Different attorneys will tell you different things, which is truly a shame, but if your partners are completely silent and are expecting a return, then you are walking on the line of a syndication with comes with additional sec regulations.

I wouldn't speculate on this, and just continue in doing your own homework to see what's attached to the property and whether or not it falls within your threshold.

I have taken into account the oil boom and the market fluctuating and falling.

For every tenant who falls into the latter category, the current system seems highly vulnerable to gaming and tenants could intentionally create protracted repossessions.In Utah we still have to hold personal property for 2 weeks prior to possession--after which the tenant must pay the cost of storage to recover it. 

It really takes a blow to the motivation seeing all of your hard work fall flat for nothing.