I was able to get "Rental Dwelling Insurance" from State Farm that lists the LLC as the insured/Holder...

While appraisers shouldn’t take too much into account about how clean and pleasant the tenant is, as noted above, everyone is human and such impressions can make a difference.

Once you have your Cert of Occupancy, you will need to replace the policy with either a vacant dwelling policy or a Homeowners depending on how quickly it will be occupied.

Most auction companies if the house is occuppied will tell you your not allowed to approach the homeowner.I violate this everytime.. set max bid and semi stick with it though.. but one trick is its human nature to stop at round numbers IE I will bid to 205k and thats it..

Matt,Speaking toward the insurance piece, your insurance premiums are going to depend on several different factors such fire protection class code, roof age, square footage, age of dwelling, etc.

I've been leaning that direction purely because I have a small HELOC as part of a loan too so by selling I can utilize the 50K difference toward a multi-family dwelling instead.

I'm interested in starting a discussion on easy ways to figure out appropriate amounts of dwelling and liability coverage to purchase for a rental property in a given area.

It would not take much of an innocent human error (overlooking some roffing/plumbing/electric problem) to eat that up quick.Taking appreciation out of the equation (cause that is educated speculatiin and I do not know your market), I dont thinking tying up the down payment is worth it.

I was thinking about buying a single home and breaking it up in to two or three separate dwellings.

There will be time for you to make a reasoned judgment about this later.I know what a decent human being feels upon receiving an inheritance, however small or large.