Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

This policy will provide additional coverage above what your existing policy covers.

You have less control with a property like this when compared to other asset classes.The upside here is that it seems there is room for negotiation because of the below-market rent tenants.If you're looking to put down $200-250K, I would recommend looking into a multifamily property, especially one with additional income potential. 

Effective  12/1/2024 @ 12:01a the Louisville rental registry requires the 16 page Lead Hazard Evaluation form in addition to the Affidavit of Compliance.

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

I have landlord insurance but wanted to get an umbrella policy for additional protection. 

In addition, i am thinking/open too- OPM, seller financing, syndication etc too.

I have a good agent I've worked with for years and letting him represent me not only gives me the advantage of additional counsel, it also gives me someone else to do the heavy lifting so I can concentrate on the deals themselves rather than the intricacies of the actual contract, the process of moving everything through closing and all the hiccups that often come with investment properties.

Thanks for the additional resources for me to follow up with!