Quote from @Chas Lumley: Hey all,I'm looking to make an offer on my first rental this week and was wanting to get different inputs on LLC vs Umbrella policies.I will be using a conventional loan and I was told by my loan officer that I can not buy the property under an LLC, but I could transfer to an LLC after acquiring. 

If you can qualify with your income, DTI and employment history, conventional may offer better terms.

Most midwest markets offer this type of inventory.I am also beginning to talk to CPAs and attorneys, but I am not sure what questions I should have cleared at a minimum to confidently take the big step. - First, I recommend speaking with a lender to find out if you can purchase the property in the name of an LLC.

Yep - I used to hear buyers offer 50% less for any non-permitted living space areas. 

Originally the bank offered 5, I asked for 10.  

I’m looking at doing a master lease deal in Alberta on a mid sized multifamily so I would appreciate any onsite you are willing to offer.  

I offer to return half because the buyer the one who has wronged me but I dont need to fight over a few grand so half is fine both partys are unhappy but we move on.  

I read this last night from “The Book on Rental Property Investing” by Brandon Turner: Break even on cash flow or lose money on cash flow, and you are on a path to financial ruin.I’ll repeat myself one last time: Buy rental properties that offer cash flow today.I’m interested to know whether experienced investors Agree/disagree and why? 

I would focus on "Ugly inventory" but would pass an appraisal and not be "Subject to" so that I can renovate and refinance on the ARV in as little as 6 months to pull out my initial capital and enough to put down on the next REI.On the flip side Indiana and Ohio would also offer a sale price to cash flow ratio since you can still find a great deal in both states.  

I would also note your mention of not wanting liability, but offering to "co-sign".