So fortunately for us, unlike with malpractice insurance, our warranty doesn't have to last a lifetime!

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). 

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

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

I have no debt, a good stable job making about $60k+ gross, and $20k saved up with about $10k in my 401k that I'm thinking about using some if not all of it towards the closing costs of the home I want to buy.

Given the current market conditions, new construction and turnkey properties tend to offer a more stable and lower-risk entry point into real estate investing.

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 

i used Kevin Hoag, Farmers Insurance for my rentals in Cleveland.   

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.