The carrier may issue a "reservation of rights" letter and ultimately deny indemnification; but generally they have a duty to defend.   

My ultimate life goal revolves around investing in communities where I can actively contribute to the flourishing arts scene.Lately, I've teamed up with a group of like-minded friends and investors 🤓, and together, we're embarking on a mission to acquire properties in out-of-state markets that are closely tied to artistic hubs.

The more full Doc a loan is typically there is more documents, scrutiny, and ultimately a longer closing time frame where as a private bridge note can fund in 1-2 weeks the full doc rehab loan may take 40-70 days on average depending on a host of variables (your General contractor's documents, the appraisal, scope of work, etc).Its imporant to figure out what you're trying to do, what deal you have in front of you, your capability in terms of all loan products from DTI focused ones, the bridge private ones, your time frame to close (the type of seller you have before you), and execute with the best game plan.Best,@Matthew Kwan@Carlos Valencia

So, this created a few issues along the way and ultimately a loss of potential profit.

Ultimately I think a lot of us are in real estate because we have found a way to make real estate fit our lifestyle and goals for the long term.

Start with BiggerPockets Ultimate Beginners Guide (free).

The tenants - those actually occupying the rental - are ultimately responsible for the rent.

It is ultimately your community, so you shape your own future.

Hard money and private money loans can ultimately feel like high-stakes games, but if you have the appropriate plan in place and add a little comedy to the mix, you'll discover that the trip was well worth it in the end.

Have a legal advisor or counsel review your documents before signing.These will make your ultimate exit strategy, post Hard Money financing period, much easier when: - preparing & submitting paperwork for individual tax returns - maintaining the note in good stating with consistent payments & digital payment history paper trail - digital and/or easy access to documentation - preparing for a Re-Fi, Conventional financing, payoff, or even Flip/Sale & deed/title reconveyance to remove the Hard Money Lein holider at the end of the note's term