Like do I give up some asset protection because it is setup that way.

You needed to have a better system in place to protect you from this situation.Going forward make sure your property manager does a solid job selecting the next tenant.

Typically, these are pretty balanced to protect both parties.

This is not your best option as then each unit is tied together and an exit strat becomes more time consuming and difficult to do because your lender is now the deciding factor in splitting the loan apart if you choose to sell. 

Should i cash out refinance before doing asset protection with trusts and LLC's?

I think, currently anyway, that investors are shifting/protecting their wealth by buying in better-insulated cities like Raleigh/Durham, Charlotte, Greensboro, Austin, Dallas, Columbus, Indy, and anywhere else where there is job growth, population growth, property values are undervalued/affordable and they can find either cash flow or appreciation.So, to answer your question, I think the strategy is to continue to buy in these markets when the numbers make sense and not sit on the sidelines waiting.

I wouldn't say BP is necessarily anti wholesaling, I think a lot of investors nowadays get their deals from wholesalers because finding properties by making offers, forming relationships and/or dumping a ton of money into marketing is either expensive or time consuming.

The lender will perform a desktop appraisal but they will typically have a short view on the value of the property to protect the company’s investment which means you will be coming out of pocket more.

The lender will perform a desktop appraisal but they will typically have a short view on the value of the property to protect the company’s investment which means you will be coming out of pocket more.

It protects YOU and any other future endeavors.