Almost everyone of them becomes a HEY SUIT ME list,In Illinois Choose a business entity to direct the properties.

Finances are not black & white, there is a lot of grey area.

I agree that this can be counter productive if done around a suit filing though.Regarding LOC, it's likely that you can't withdraw from LOC around a suit filing.

A contested foreclosure and the hearings etc. can easily surpass thatWhere borrowers file counter suits I have heard to expect to spend $40k if it goes through fruition and there is discovery involved 

You’ll find the one that suits you the best.  

One rule doesn't apply to all investments or all cities when buying an investment property.Start by figuring out how much you have to spend, then decide what type of investment property you want: do you want to buy a house for you to live in and rent out rooms, buy a single family home, multifamily (duplex, house with a suite, etc), and what type-more of a starter home, turn key, something that needs a bit of work.Once you have an idea of what your mortgage payments (assuming you are getting a loan) would be, that will give you a better idea of what you are looking at.  1% is a rough number (I've never used it) because it depends on your costs (mortgage, taxes, etc) and the actual rent, you need to look at the actual numbers of the deal.

I have a great positive cashflow on the house, just put a new roof on it, but the lump of equity may be better suited being directed at my family right now. 

A specific performance suit.

People can still go through discovery to establish you as the owner of the LLC, however, that involves discovery costs and deters some law suits.

Obviously, all lenders must follow all applicable state and federal laws, but they are generally free to develop lending criteria that suits the marketplace place and establishes their individual competitive advantages.