A good broker remains transparent throughout the process, providing regular updates on loan applications, lender responses, and any emerging challenges.

Does my homeowner's policy need to be updated to name the LLC as the insured? 

If the house has the right updates for electrical it is a very in demand area for Section 8 tenants as well.

My experience, ability to deliver above satisfactory results at an exceptional period of time brought a much appreciated and high value to the deal.

Does anyone know a lawyer there that is familiar with hard money loans and could update the paperwork ?

Find 133k-150k property that needs repairs and updating.

Here’s what I do with my rentals:I either have tenants split the utility bills or include a clause in the lease that states if the gas or water bill exceeds a specific amount ($X), the tenant will be responsible for the overage, provided there are no leaks or other infrastructure issues contributing to the high usage.To determine this $X amount:Water: I take the highest water bill I’ve had over the past year (excluding periods where leaks occurred) and add about $15 to account for small fluctuations or potential increases.Gas: For gas, I calculate the median bill during the winter (when usage is highest) and the median bill in the summer (when usage is typically lowest).

Very difficult to operate low income housing through 3rd party management, especially over an extended period of time.

If you share a house with multiple roommates, you could significantly reduce cash flow.Good luck on your real estate journey, and keep us updated!

I read the law, discussed with the attorney and they have no RE license period.