Over time, he ended up losing over 60 pounds! 

In theory, for example, you could have 10 LLCs with 10 rentals, and if you do something heinous with one your worst-case scenario is losing that one house rather than 10 homes.In reality, if you keep good insurance this is virtually guaranteed to never happen.

Sucks for a broker to get that far in and lose the loan, but its on them!

And lose the backyard pic that shows the neighbor's junk in the yard, not appealing.

I would like to join that sort of campaign and not lose money on my second go at this. 

So I would make sure you keep your eyes open for pitfalls when absorbing other peoples teachings/wisdom, even mine, or especially mine :)  Go do your own homework, find other opinions and weight their ideas by their merit.

I've just finished reading the popular books (The book on Rental Property Investing, Long-distance Real Estate Investing, etc.) and I'm ready to start investing out of state with $100,000.I want to buy homes with cash, but I want to make sure I don't lose money from getting scammed.

When I finally found a buyer that was willing to pay enough money where I didn't lose capital I was more willing to give the buyer a concession because I was getting my problem solved.Even after selling my hell house I wouldn't sell my "good rentals".

If a flip goes bad, you lose money.

The chances of your getting sued and losing more than a standard policy covers is slim to zero.