I believe they expect us to rollover and let our insurance company handle it and just settle.

When it comes to your home, the right insurance policy can make all the difference.

Will be far easier to purchase more property with 10% downpayments vs 20-25% for each one.Umbrella insurance isn't too expensive, $2M for $1200 per year.Just be sure to run the properties as a good business, address any concerns brought up by the insurance company (they usually do annual inspections). 

Additionally I spent $35,000 on property taxes, $17,000 on insurance, $35,000 maintenance and repairs.  

.- you can refi later- you can carry the insurance you want, not what the lender wants

I would add that this is a geat time to reassess not only insurance coverage but any recurring expense as well as maintenance needs.

Obtain insurance under the LLC.

Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

Not only would you benefit from having a partner's input on the deal, but you would also have an experienced individual to work alongside with as you navigate the project.It's also important to make sure you have identified your "team" ie; contractors / realtors / lenders / insurance agents / title company / etc. 

Most of the loans I do are on 25 to 30 year amortization, and included in that is people calling me b/c their current bank would only do 15 or 20 in cases where they've had the property for 15 or 10 years already.Every time your car insurance is up for renewal, that's an opportunity to make the carrier earn, or re-earn, your business.