If not then get a lot of liability coverage & pet deposit for property damages.The guy leasing our commercial property has one on-site & if it knows you your OK if not stand very very still.

Most lenders use a DSCR or DCR, debt coverage ratio, of 1.2 for multi family properties.

These reserves are established to augment loan insurance as well as depository insurance coverage.

You need that kind of coverage.

The company just interoduced property and casualty coverage.

I can see it now...Insurance binder with a bedbug coverage exclusion!!!!

No max out of pocket detailThis is a limited plan in that it provides no coverage for prescriptions. 90 day limit for inpatient hospital stay. no ambulance coverage. requires referral to see specialists and some other limitations.If you want prescription coverage and unlimited inpatient hospital coverage premium become $1751.Based on what I found in NJ if you want a complete plan with no referrals, etc then figure it will cost you around 2500+.

Insurance is another consideration, the owner needs coverage, you'd want coverage and the tenant would not be covered unless they had a renter's policy.

I personally like contractors to have at least $1million in liability coverage AND worker's comp.

Chris, the basics of any loan (and the attractiveness to the lender) come down to two main factors....cash flow (aka net profit, income, debt service) and asset coverage (aka net worth, ARV, secondary support, LTV).