When I begin making payments, as most of you know, it will include principal & interest, taxes and insurance.Question:If I plan to move out of my duplex, would I notify my insurance company to convert my coverage from homeowners to rental property insurance?

I'm speaking strictly for the state of Colorado, you have to be denied coverage by 3 admitted carriers before you can go the E&S (non-admitted) route, and typically E&S policies are more expensive, but perhaps you could get a short term policy that would cover you until you can get the roof fixed, and then go back to your prior carrier...if you still wanted to do business with them.

Balance sheet: Asset of $75,000; Debt of $45,000 Income statement: Top line rental income less vacancy: $1140Total operating expenses (42%): $480Net Operating Income Prior to Debt Service: $660Debt service: $310Debt Coverage Ratio: 2.13The lender's bottom line: Many lenders view a DCR of 1.40 (+/- 0.10) as their target minimum, so this deal would be beneficial for the portfolio, with an acceptable LTV (60%) for this established borrower.

Or allocate by amount of coverage I WOULD have in the absence of RE investments vs WITH RE investments.

Confirm insurance coverage and take over claim.As others have said, you also need to winterize; bleed all the lines and add anti-freeze to toilets.

Jason, the $1M coverage they offer is only if you buy the property and you take out a title policy with them.

If you have a $1M umbrella, it adds $1M in liability coverage to all exposures under your own name.

Some Dwelling Policies and Tenant Policies will have coverages for this circumstance.

It is an insured closing meaning the title insurance company also insures the settlement or, there is separate coverage.

There will allows be inconsistency in underwriting and one lender may consider your liquidity a little higher than another based on their underwriting criteria and you'll come out with different global debt coverage ratios.