Monthly cash flow of $350/month, obviously a portion of that will be used for repairs, maintenance, and capital expenditures.

Monthly cash flow of $350/month, obviously a portion of that will be used for repairs, maintenance, and capex.

I’m very conservative.Now I have the bug and looking to buy two properties a year for the next five years so adding other layers of asset protection is vital.

@Matt Huss I own a few student rentals and also have had success with a variety of creative financing options including having the seller secure a second mortgage for a portion of the down-payment with a balloon due after 5 years (I've had some banks that will even loan at 80% LTV with a 20% seller's note so I have nothing into it). 

If you are using Fannie/Freddie money in your refinance step you could file a 2nd lien AT CLOSING for your cash portion of the transaction.  

Best scenario may be to  start selling off portions to earn your money back.

It's always wise to stashing a portion of your rent aside for future damages and repairs.

And when you once again sell you will again be able to take a portion of the profits tax free while continuing to defer the rest of the profits if you choose. 

The seller does not have a crystal ball and cannot disclose that the tenant is not going to pay the when when the seller does not know whether or not the tenant will pay the rent, but the seller does have the right to hope the tenant will pay the rent and he has the right to keep the deposit for the portion of rent that was owner when he owned the property.

So one of my goofy renters' goofy kids was playing with a lighter and basically burnt up her room and a good portion of the upstairs.