Quote from @Renee Ward: In a quote for an umbrella policy, when I see it in writing it is labeled a personal umbrella policy with our primary home cars etc. 

The primary reason is that my parents' risk tolerance is much lower than my own (they are retired and are on fixed income).

@Kristin SolbachIs your primary residence in TX? 

The last coupe of weeks 3 people told me their premium went down for their primary.

Additionally, Irrevocable Trusts usually require that a 3rd party be the Trustee, which means that you will not have a primary role in decision-making as it relates to the Irrevocable Trust.

No experience with non performing notes.My idea is to buy these notes with the primary goal of accessing the property through foreclosure, knowing that there are several other possible outcomes.

For non-primary residences, they have to follow all of the following rules to receive a permit: - the property must be a minimum of one (1) acre in size (designed as a precaution to disturbances)- The building standards of the underlying zone district must be met - Adequate parking is provided - Defensible Space requirements are met - Valid water and sanitation must be demonstrated - No more than five (5) bedrooms are in the dwelling As time goes on, they continue to become more strict on the rules listed above here, and are actively regulating it.

My primary residence is debt free as is my rental property-- the thought is the rental will supplement the retirement income and I'm not chasing ROI/ COCr / vacancies / etc.Thanks for the welcome! 

If the primary goal, and it should be, of every investor is a return of capital and the secondary goal is maximum return on that capital, then you are in a great position.The real problem you need to solve, as I see it, is taking advantage of the unused equity in your Atlanta property.

If you don't want to miss out maybe just buy it as your primary and live in it until you can actually at least break even.