Seems doomed to fail in any sort of market correction. maybe its like publicly traded companies that have Billion dollar valuations but make no money :) 

@Jordan FeinerWell you’re missing that you’ll be able to trade up if you add value.

@Kevin FergusonWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

You may want to have a 1031 specialist take a look before you make any decisions. 

If this is the case I would strongly advise you do now before making any decisions.

I have never had a problem putting a new loan on them at that point with the original or a new lender at current interest rates.But that's generally because A) the properties had appreciated in value and B) there is quite a bit of principal pay-down on 20 year amm in the first 5 years.My decision has always been more about do I want to pull more money out, roll it into another 20 year product and lower the payment or continue paying it off on a 15 year schedule.To deal with those questions and answer your question about 'protection', is kind of a personal business decision.

@Anthony MarucciWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

However, I could stay with my current job (I am a property manager by trade so this works well for investing) which would make it easier to buy more properties in the future.

As an agent we often have to make this decision. 

They send the worst third party contractors, authorize the least amount of repairs, and take an unacceptable amount of time to dispatch folks and make decisions on how a repair/replacement is to be handled, while your tenants are without their appliance what seems like FOREVER.