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. 

Hello BP'ers,Finally gearing up to take the plunge in Kansas City, MO and am looking for attorney(LLC and real estate) and investment-friendly broker/lender recommendations (preferably fellow BP'ers).Suggestions welcome. 

I feel that they won't have problem paying the rent, but with utilities and all, plus food, etc..

Sub-to is preferred but either serves my purpose.

Once they are rented we will move them to a second policy with preferred rates.