How stable is that economy, if a major employer fell out, what income levels would take the direct hit?

You could always employ a bird dog or tell people on that block that you will pay a finders fee if they find a property coming up for sale that is not on the MLS (yet).  

She likes to say she's "self employed" thats what she calls not having a job....she's one of those people that want everyone to think she's rich but has nothing.. the remodeling of the bathrooms she paid for with money from a car accident, still knowing they will loose the house...Idiot they have no assets for the bank to go after and are about $25k behind on payments....

., a new major employeer coming in, new government policy) that will force appreciation, or something crazy happens like lenders being willing to give everyone and their cat a 100% loan.The math on multis is similar to what I wrote above.

You usually cannot do that if you're still employed with the company with the 401k.Assuming you're not a disqualified party w.r.t. the IRA, by far the easiest way to do this is with a loan.

However, employment is high and the city had negative migration for the past couple of years because of it.

Now if there was a major injury, there's a good chance that a court may throw out the waiver and hold us responsible, even with a waiver signed, which is why I do not want to employ anyone for work requiring ladders, granite fabrication, roof work or other high liability jobs.

Look at employment trends, jobs and job growth, migration, and other economic drivers.

No assets, no business of our own (since most of us HAVE to join other practices or go hospital-employed, in the MD world), nothing to write off.

Also, I'm sure you could find creative ways to employe somebody in the business as maybe an equity partner or on a performance/commission basis that would really help you scale your business without committing too much of your current cash flow...