These policies focus primarily on providing coverage for the physical structure of the property.There are three main types of DP policies:DP-1 (Basic Form): A DP-1 policy offers the most basic coverage, protecting the dwelling against named perils such as fire, lightning, and explosions.

Does any lenders offer these DSCR loan terms?

The seller offered financing with 20% down, which I used to buy the place.After starting construction and realizing it was going to cost more than expected, I approached a small local bank that knew the property and would offer the rehab financing. 

They have a HUGE incentive to do as much work to the property at the highest price.

The referral fees, which operate similar to a multi-level marketing models, often incent these students to post the rare assignment fee check that does get done to every social platform they can and make it seem like they have an "in' with the guru leading the program. 

E&O probably isn't needed unless you are offering advisory services. 

I will call the seller again to make the offer.

If there is anything I can offer, please feel free to reach out.

I am a strategic investor and licensed realtor in San Diego & I just put an offer on a senior living facility!

Does anyone have experience with banks that offer these without fees?