To put some (fictitious)numbers out :Prop 1 valued at 1million Prop 2 valued at 2 million Addtl assets valued at 750KAssuming normal GL coverage, how much umbrella do I need?  

You can work out of your home but you may need to probably file a fictitious business name and use a mail receiving service or a P.O.

All you need is to file a Fictitious Business Statement and then have your CPA get a Tax Identification Number from the IRS. 

For example, on the buy side if I had my own licence and the perfect property popped up then I'll get in touch with the listing agent ASAP whereas my rebate driven agent may not.  

And if the loan is in a state where a servicing licence is required, and you don't have one, could end up in hot water if the borrower files a complaint with either of the the above and/or the attorney general. 

What perfect timing to get your licence - new year, new journey!

So in this fictitious scenario, I win the bid, pay the back taxes to the County, get a Real Property Lien that must be paid off with interest (hopefully 16%) within 3 years.

The house we bought was on VRBO and Airbnb as a monthly rental so at least that part we are somewhat ready for although it would be great to be able to get a licence.

That is why I was looking to partner up with an experienced investor so I could learn the whole process through a hands on experience.And for getting licenced and helping rehabbers, are you talking about working as a subcontractor for a general contractor?

Local inspections, licences?