I was looking at those two formulas and thinking to myself this seems a bit excessive for rental property investing, thanks @Bjorn Ahlblad! 

You can get an Excess or Umbrella policy that provides additional coverage. 

Buying out of state is fine you will only have an issue if you go with a lender with overlays or requires landlord seasoning.They may question your ability to manage the property if you are out of state in terms of excessive mileage away.

Hi Holly,Here here.I'm not a fan of debt either lolWe loose 90% of business because we turn down turnkey investors looking to finance.The reason is mostly two-fold:1) Our price points are low entry and we have the luxury of not being volume focused so we just refuse to deal with closing delays when it comes to selling via financing.2) I don't believe in leverage when first starting to build a portfolio.

As with any type of structure check the door and window openings for sagging and major cracks, older homes did not use metal hangers for support oftentimes these structural members were simply held together with a few nails that have worked themselves loose over time.

Ready means liveable, and the IRS is pretty loose with their standards on what is "liveable".

If it 'fails' or would be excessively expensive to repair, you can just back out at that point and forfeit your EMD.

Cheers to you mate and thanks for taking the time to reply.Agreed.You are a conglomerate company and maybe you have more protection as the quarterback (Sales staff, assistants, etc...)Not saying that you aren't in the front lines and I know of the hits you have taken and still do to this day.Even after all these years, these "hit's" don't hurt me any less mate.Much respect for you and your achievements 🙏 Diplomacy left me a long time ago so I do my best to keep shut otherwise all hell would break loose and I become like this guy @James Wise hahaLove you James 😘Keep being great Chris

You may also be able to purchase excess coverage above that.3. regardless of how the property is insured, pay attention to the Loss or Rents or Business Income coverage to make sure the amount is adequate to cover the rents.  

More specifically, I’ve been looking at 3 bedroom townhouses versus villas (word used loosely) in small developments.