There are always things we cannot control and we prefer to have budgeted for them. 

Not be my first preference.

I think a lot has to do also with how you both like to learn, I spent a lot of time growing up traveling for sports so I got used to working online at a young age and I did not miss the classroom interaction and anytime I did have an issue I just emailed them and someone would get back to me pretty quickly.

Credit is my preferred option in this case.

However, I would prefer not to lose my life savings and retirement funds because of one incident...with that being siad, is the thought of everything being taken from me if I don't have a separate entity just a beginners myth?

Davon,I guess it depends on many variables that you didn't provide, such as how much the late fee is, and whether you want her to continue her tenancy or prefer to get someone else in.  

That said, I am tempted to experiment what it's like actually living in another area, either to eliminate or to reinforce my preference for the east.

And No multifamily. 4) rent ratio above 1.3% 5) ultimate goal is to net $200 minimum off each property/month regardless of purchase price and rents. 6) we try for good schools but it's hard in the c class properties.7) we also consider the crime rates in the area. 8) we prefer already rented if through a turnkey company. 9) we try not to buy more than 1 home in the same area.

I prefer to start with my budget and focus on areas that would be feasible for the amount of cash I have. 

feel free to interact in the forums, meet some great people, and definitely provide more value to the community by sharing your thoughts, experiences, and of course, success stories!