If so what happens if your credit is bad or you owe debtors or have liens or judgements against you would you not be able to put the property in your name to move ?

I think the DOT if recorded now will however become a lien if/when the trustee's deed is recorded, much like a recorded judgement or IRA debt becomes a lien when a debtor comes into ownership of real property.

@Matt Shamus  you would be surprised your numbers are as good if not better than Memphis given the tax burden and the bad debt or trouble collecting rent..

Over the last six months I have paid down small credit card debt, put away $5,000 as an emergency fund, and contribute 15% to my 401K which I am not willing to lower to pay down debt or save more towards my first property- that stays the same.

Now I've got the freedom to invest in real estate with the 401(k) or debt, or JVs or ...

No credit card debt or auto loans etc.  

I am fine with taking on debt, or leverage, to go into a a deal.

Time is a debtors greatest refuge...the more you give the more they take.

So one goal as you defer defer defer could be to monitor your tax future and buy additional basis in a 1031 if you anticipate needing the tax break (which will reduce cash thrown off due to additional debt) or leaving only the original basis in play if you want less debt and more cash flow.  

While there is no more debtors jail, I have seen a judge remand a debtor to jail (the charge is actually contempt of court order.