I just finished rehab on my first Cleveland property and we're waiting on the lead certificate to come back which I'm told 30-60 days. I have a rental agent in charge already established and started the rental registr...

I own my own house and I own some land out of state, so I have assets I want protected.I have quotes and will be purchasing an insurance policy that provides 1 million in landlord liability and I can also purchase an additional 1 million in an umbrella policy.My question is, is it even possible, or has anyone heard of a landlord getting sued and losing over $2 million on a simple duplex?

It doesn’t require you to disclose any personal information. you just have to have sufficient assets for down payment and closing costs usually starts out at about 20% down.

Is that the only asset class that you enjoy now?

Raising money is easy; managing assets is hard.

I assume the sellers are offering seller financing since obtaining a traditional mortgage or refinancing to one after 7 years for this property is highly unlikely.

As far as the land trust we needed to see attorneys and preferably the attorneys Legacy contracts with to teach asset and taxes (Anderson Advisors who would give you a free consultation which they offer on their website).  

We have a savings account where we split up into different buckets (from our w2 and passive income) and one bucket is for real estate and when we have enough to acquire another asset we will consider it.I am not a fan of borrowing 100% of the transaction costs including closing costs as it will be extremely difficult to make money many times on those types of deals.

Or hire a professional who specializes in selling this type of asset.

Both of these financing can be obtained as long as you have good credit.