If you hold rental real estate there may also be specific liability coverage you should consider.In addition to that, you need to seriously consider getting a personal umbrella liability policy.The thing about insurance is many think it is expensive until they need it and unfortunately, most state laws prohibit back dated coverage now.

They can--and do--impose additional prohibitions/guidelines/requirements as they see fit.

Likewise, a delapidated house on such a lot is worth less than nothing, because the cost of demolition is more than the lot is worth and the cost to do a complete "to the studs" rehab would be cost prohibitive.

If there are no laws prohibiting Sub-2's, then think about it this way.

[AFFILIATE LINK REMOVED BY ADMIN - THESE LINKS ARE PROHIBITED ON BIGGERPOCKETS!!!]

What will be a problem is when the state and federal government start passing laws that prohibit evictions.

And TX law prohibits home equity loans greater than 80% of appraised value.

It basically states that the grantee is "prohibited from conveying property to a purchaser for three months from the date of the deed.Are they basically stating that we have to wait three moths after we close before we can retail the property to our buyer?

The costs and the harm of prohibition are immense and without any justification.

I have since done some research after posting this and read Section 9 of respa prohibits a seller from requiring the home buyer to use a particular title insurance company, either directly or indirectly, as a condition of sale.