Read your policy (and mortgage) closely.The lender will have a process, they deal with this all the time.

Hello BP World,I have to buy title policies covering the buyers on my Owner Finance deals, and have been purchasing them directly from a title company vs. paying the markup when going through an attorney.  

The other benefit of an umbrella policy is that the policy will cover most if not all legal fees associated with a lawsuit.

Split between the lie down and die approach where the belief is when a tenant stops paying you give up and the alternate approach of file for collection but do not ever expect to see any money.I am so glad that neither of these attitudes are part of my business policies.

Does anyone have a written late policy that they use?

My local State Farm office issued a policy for my rental condo.

For example, we currently have our properties under one BOP Insurance policy but I'm not sure if that is allowed under LLC's because we get one bill for all properties and I know you aren't supposed to co-mingle funds under LLC's but I'm not sure all the ins and outs of that.  

@Brian W. my comment was strictly with regards to non-bank or non-traditional lenders.

A study completed by Firepaw org shows that having tenants in your property can actually increase your revenue.Unfortunately everyday more landlords are learning that canine liability is no longer covered under current insurance policies.

Yes, you would need what many insurance agencies call landlord policy.