If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

It appears the only thing I'm not covered for now is resolutions.

Insurance companies often pay for temporary housing for families displaced by things like fires or floods, and they usually cover full rent!

Quote from @Chris Kittle: Quote from @Trevor Finn: Hi @Chris Kittle,Your list covers the essentials!

I'm covering the leverage and have reserves in place for any capex expenses.

So the question is - why would someone entering a deal/assignment need a gator to cover EMD?

It didn't occur to me when I shopped for this policy, but will our rentals even be covered due to different ownership?   

I would then probably consider putting down the min. downpayment on a duplex up to a fourplex, for a place to live and rent out the remainder to  cover the mortgage and expenses.  

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.

It was next door to my moms bed and breakfast so we could manage it easily.