I get their phone number, work number, vehicle description, and emergency contact.  

If you do not want to pull it out to reinvest in real state then pull it out and invest in some other vehicle that will not be effected by a real estate drop.

You are required to be an accredited investor with all of these vehicles. 

Real estate will never be my exclusive investment vehicle but I hope to make it a portion of a well diversified portfolio some day.

You can:1) call your accountant to make sure that there is not a better vehicle for your business structure.2) file paperwork yourself (if you can in your state)3) make sure your attorney knows you have an LLC the next time you meet with him.You may find that you get flexible taxing strategies with your new LLC, but you might not be able to file your own evictions on your rentals.

Over the long haul, I believe there is no better investment vehicle.

That combined with a properly maintained entity provide you very good security for all of your assets including your bank accounts, your investment accounts, your personal house and your vehicles - not just your business.  

Purchasing rental property in cash with no debt is doable for sure, but it completely eliminates the advantages that real estate provides as an investment and equity growth vehicle. 

Look at it this way: If you drive a personal vehicle to a property for a work-related reason, you're incurring an expense (gas, vehicle maintenance) to perform that task.

However, it appears common for many to think that taxation within a vehicle that is supposed to be tax deferred (or tax free) defeats the whole purpose and this is not necessarily the case.