Few other things will be an emergency, but a plumbing issue and a heating/cooling issue often are. 

IN   WA OR CA NV and I THINK AZ  there is no deficiency judgment allowed on a purchase money first loan for owner occ.. so in those states its business as usualI think the more pressing issue is values have come back up and less people are underwater than were before.I understand Texas can be a mother when it comes to chasing deficiancies and something that most folks don't know or understand.

It all depends on what kind of asset class you're looking to hold- some people will say that higher class properties will bring about better tenants and less hassles (plus often times they tend to be newer constructions, so one can say there will be less maintenance issues).

This obviously only addresses third party liability, and not recourse a lender might have.Two potential issues with LLCs are (1) how easy/difficult it would be to move the property into an LLC.  

That is a red flag and in a down market could be a big issue.

 Thanks for the imput, Peter  Good luck with your zoning issues ,   I would assume your persistence will pay off . $50 a ft  that certainly does work .

They are all preforming well, but due to deduction maximization by my CPA, the big banks are having issues processing my loan for the latest property that I have under contract.

I have health issues so most of my work is searching and evaluating props on line.

Being self-employed has always been an issue qualifying, so I will have to start small and work my way up.  

So these are my initial thoughts on the issue - I'd love to hear any feedback from the experts out there... any other military members who encounter these types of frequent move and invest types of life situations... so thanks in advance for your input!!!