The impact on clients may be disheartening, as they realize their advisors are restricted from endorsing potentially profitable investments.

house is age 1930. initial renovations cost, i got from different contractors. i think it came to $14k but i just around up few grandsclosing cost break down is below: (it high bc I am including home insurance & taxes for the year within closing cost) Application Fee $250.00 Loan Level Price Adjustment $4,453.00 Underwriting Fee $350.00 Appraisal Fee $600.00 Credit Report Fee $27.00 Flood Certification $9.00 Lenders Attorney Fee $500.00 Tax Related Service Fee $99.00 Title - Administrative Fee $25.00 Title - Bankruptcy Search $20.00 Title - Endorsement Fee $150.00 Title - Lenders Coverage Premium $1,026.00 Title - Search Fee $375.00 Recording Fees and Other Taxes $375.00 Transfer Taxes $1,875.00 Homeowner's Insurance Premium (12 months) $1,200.00 Prepaid Interest ($15.63 per day for 15 days @ 3%) $234.00 Homeowner's Insurance $100.00 per month for 4 mo $400.00 Property Taxes $112.75 per month for 7 mo $789.00 School Taxes $338.08 per month for 11 mo

In some, if not most cases, the mortgagee isn't even informed of additional assignments of proceeds.Wendell, my comments were addressing the OP I did not listen to your podcast and my due diligence comment applies to the entire site, not saying you or anyone has bad information (that said is not an endorsement either) but there is some bad information on BP given by the public. :)

You have to get the mortgage company to endorse them before you can cash them or give them to your contractor.I've just been through this and it is a pain.

The mortgage company will ONLY endorse it when they receive:an itemized estimate from contractorcopy of the contract So, its not like I am pocketing any part of that check.

@Chris MasonI’ve seen this idea endorsed by Biggerpockets and Craig Curelop author of the house hacking strategy, can you sleep in a trailer in the back yard or driveway and rent out the rooms inside the house or Airbnb out the house.

Also, I am not endorsing any of these and all the other appropriate words to get me out of trouble :) 

@Kenny RobbinsThe Union Tribune put this out in December. https://www.sandiegouniontribune.com/business/story/2020-12-03/new-regulations-slashing-san-diego-short-term-rentals-by-50-percent-endorsed-by-planning-commission

These policies typically provide coverage for damages to the property and liability protection for the host in the event of an injury or accident.Another option is to purchase a commercial insurance policy, which is designed for businesses and can provide more comprehensive coverage than a traditional home insurance policy.It's also worth checking with your current home insurance provider to see if they offer endorsements or riders that can be added to your existing policy to provide coverage for short-term rentals.Regardless of which insurance option you choose, it's important to thoroughly review the policy and make sure it meets your needs and provides the level of coverage you need.

Seeing that the ABA has not endorsed these entities only tells me that they may be better for some people and result in less litigation, which results in less going to any attorney!