Sometimes the internet can make us feel like all we have to do is buy a house or two and quit our job.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

.: Getting quotes for the house I'm closing on in April and wondering what to how with for coverage limit and umbrella.

You can buy a rental house, put $60,000 down and you will have to get a non-recourse loan for the rest of the mortgage.

Since you mentioned that you are getting started, I highly suggest you house-hack (this is how I got started in Costa Mesa, Orange County).

For those, each has its own LLC because I need to segregate investors in different properties (in other words, the ownership is different so the entity has to be different) and because our lenders for those size deals require single purpose entities.But if I formed a separate LLC for each of the 700+ properties that I’ve purchased in my career (all of the houses and small multi), I’d need a full-time legal team just to handle entity administration.  

How much less will a potential buyer pay for the house, now that one "bedroom" does not have a closet?

@Jerry Velezstrongly recommend against doing this.start with a house hack instead.make it your mission to house hack.did i mention house hacking? 

The current price of the house is worth about $900000.

Like I flip houses.