What Colorado did was unnecessary and will cost them millions in less premium bids because of this new system.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

If you paid like 750k or 1 million that could put you in a bad spot if tenant wants to own the dirt rather than lease.   

I am on my way to making MILLIONS.

Does anyone have a rule of thumb for how much cashflow one should be getting for every million dollars of debt on real estate?

I currently manage a multi million dollar home in Palm Springs that has its own gated entrance and sits on a hill.

When we bought this note at a $1 million + discount, I not only paid him the $40k he asked for - I added a $100,000.00 bonus!  

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?

Hi, I am looking to purchase an 11key B&B for 3.3-3.5 Million using a Private Money Lender.

If you want to get the best responses, don't ask a question that has been asked a million times.