Claims normally paid prorata with priority to secured lenders.

Normally, I would suggest that you simply form the Series LLC, but since you are posting from California I would have another strategy I would recommend.

I also require:Rent + Monthly Debt <= 45% of GROSS monthly incomeExample: So, someone making $6,000 per month ($72,000 per year) meets the initial income requirement BUT if they have a $750 car loan, $250 child support payment, and $250 credit card payment $1250 total then $1680 (rent) + $1250 (monthly debt) <= 45% x $6000 (monthly income)$2930 <=$2700 (DENIED)

East coast gets higher normally because of foreclosure risk.. not the risk of foreclosure per se but if you have to in some states it can take years.

I also suspect home prices would initially rise on the first 1-1.5% of cuts, but ultimately fall once we get to the 3-4% range as large  pre-pandemic supply comes back online, compounded by boomer land lords selling realizing the top of the market is in the rear view mirror (at least for them).If you eventually get squeezed on lower rents and valuations as the market normalizes, the ability to BRRR your pandemic era deals will be limited, so how do avoid trapping capital in the deals you already own from this environment? 

Normally you will see the rate closer to 8-10.5%. 

It's like the head gasket on a car engine, the part is cheap, but the labor to disassemble everything and re-assemble is intensive. 

There is normally a partial release premium that requires you to pay additional proceeds towards the remaining properties in the loan.

If so, that will be insured normally under a Dwelling Fire policy. 

This was also an odd deal because this property was so close to the train tracks- it was practically a train car.