Excel or a financial calculator is essential and actually running the numbers on a prospective property is better than a rule of thumb.Anyone who cannot cope with mathematics is not fully human.

Your easiest route is probably to get high limit dwelling fire policy with an umbrella.

A Dwelling Fire Quote.

His income on the application is $4500 per month but the lady at human resource is not willing to verify his wages.

I'd also suggest you guys check for a Habitat For Humanity Re-Store, they get building materials donated from the box stores, some scratch and dent but mostly firsts, out-of-stock items keft over too.

(assume that I'd be able to get qualified for the loan and that it would be "reasonable" to be able to pay back the 40K in the time specified)after re-reading, i assume the investor would need to be a lienholder from the beginner under any circumstance...but is that even possible, or would I have to buy the house "with" the investor, which i'd rather not do...also, do not dwell upon the legal details of the arrangement, i have people that I could do this with on a verbal contract not to mention a seperate written contract that protected their investment+interest in the event I sold the property for a gain...I'm much more concerned about the actual numbers/percentages and how realistic this proposition is from an investment standpoint, not a legal one..

3 Family Dwelling is in between a homeowners policy and a commercial property policy, what you need is called a 'Dwelling Policy' the problem with a dwelling policy is that most carriers that write dwelling policies would want to have your primary policy such as either your homeowners or personal auto policy.Evergreen Insurance & Risk Management specializes in insuring commercial real estate and they can write a 3 family dwelling without the primary.

The deductible credit is basically worthless above $1000 on a small 2 unit dwelling.

You can get cheap building materials usually from Habitat for Humanity ReStores (if you have any around).Then, your nights and weekends are going to spent sacrificing every moment getting those units fixed up to the point they are rentable.

Any "religion" that tells its people to kill anyone who is NOT a believer in their "religion" is not a religion at all, it is a CULT, a mind controlling power hungry people who have no regard for human life.Time to get a new person in the White House.