Unfortunately Clussive’s ignorance of the HUD rules did not exempt him from action by HUD.In order to ensure Clussive never closed another FHA or VA loan, they placed his name on the Excluded Parties List System (EPLS) and Limited Denial Participation list.

However, personal umbrellas Exclude business activities meaning a claim resulting from your operation of a rental property (negligence in maintaining rental property or failure to do background check) is not covered if the property is in your personal name or an llc. 

(Naturally, this excludes appraisal fees, lender points, recording fees, taxes, etc...Another way to phrase, if I'm a cash buyer purchasing a REO, what "Title" expenses do I need to be prepared to pay?

you will want to refer back to this business plan in the future…..then, and only then, should you consider entering into a dealCap rate is net income (excluding debt service) divided by selling price.  

Ocwen services it, and they determined that I can afford it (of course, they counted the income from the rental and excluded maintenance costs).  

Since it's your first investment, why not live in it for 2 years so you can be excluded from capital gains up to 250K unless you plan to 1031.

For a primary residence that you have owned AND occupied at least two years of the five years prior to sale, up to $250K in capital gain per taxpayer can be excluded from taxes.  

Which state the rent should be 1 or 2% of the purchase price.Another is the 50% rule which is that 50% of all rental income will be taken up by expenses excluding debt servicing.Either way @Jesse Bellavance check out the BiggerPockets beginners guide.  

It's not just MO, but most states are set up with the same Work Comp laws.Besides making it mandatory for each to carry their own insurance, here are a few solutions some of my clients use,1)  Have the 1 man show purchase a work comp policy with "if any" payroll and exclude themselves from the policy. 

we have had this happen a couple of times.So we opted to exclude the roof in coverage.