I think my main question was how to protect it from medicaid or if they go into a nursing home?  

I have virtually no assets to protect at this point. 

For those who are using conventional financing for a few rentals--or those who have in the past used conventional financing--I'm curious about your strategy for liability/asset protection.

Depending on the circumstances, there may be liability protection to be achieved that way.

Am I wasting my time going to the court house, searching public records?

I'M in the process of putting property under contract with a Real  Estate Agent which the property was listed @21k public info and I have a buyer's criteria match for that property would I be considered asking to much of an assignment fee of 31k if my buyer is getting 61%ARV For his purchase?

I searched the public records and looks like it may have already been foreclosed upon because there is deed document from the occupant to our friend. 

The purpose for this clause is to protect me in the event that I don't successfully close on escrow #1. 

See page 44 of the following PDF:http://www.millernash.com/files/Publication/a89610...Thanks

At a certain point the cost of private schools and constant rent increases and moving is weighed against the appeal of owning a home in a safe suburb with good public schools.