I mandate this for my tenants.Their policy will cover things they cause: fire from stove error, water damage from leaving tub on, suit because their drunk friend fell and broke his head on the toilet, etc.

Well, my iPad spellcheck caused one if many errors that I did not catch.While it is true that I do not look for or at the privates of my prospects, that is not the point of my post.I market to attorneys of the people in charge.

The problem with the property that it had a fatal error and it was non financeable.

I have seen a few rookie investors hiring people that say they have experience and the next thing you know, they paid for a roof that now needs to be removed and replaced because it wasn't installed properly.

There is too much room for error.

rookie mistake 

It's nice to see a fellow rookie on the site.

If it was the bank's error, even an identity theft, the bank will reimburse the late fee to the tenant.

Hello,I've been on and off with my real estate journey due to personal life issues. But for the past few months I've spent most of my free time reading many articles, blogs, books, and posts to give me a solid foundat...

The audit reports include:  Assessment of the internal control structure;  Computation of adjusted net worth;  Validation of valuation reserve methodology;  Verification of adequate fidelity and errors and omissions (E&O) insurance;  Compliance testing over servicing, pooling and reporting activities; and  Testing of controls around risk management activities, including stress testing and compliance.