Texas boasts affordability and business-friendly policies, but lacks some cultural amenities.It depends on your priorities!

My only concern with renting it out room by room in Philadelphia is my safety as my roommates could be psychopaths.

Some carriers require limited water damage coverage depending on the age of the property and age of utilities.I would recommend at least 25% (ideally more) when possible and if you're limited to 10% you should make sure you cannot purchase another policy for a similar price.

I believe solid insurance and a good umbrella policy will suffice.

It's so nice to have that safety net.

Money left over should be placed in reserves until you have an appropriate safety net for your particular portfolio.

Perhaps it is hard for people from the states to understand - but the rule of law, and clarity in regulations etc really makes it so much more attractive than other places where you never know what new policies might come into effect forcing you to take massive loses etc.

But somebody could use a credit card fund the immediate need and then pay it back with the policy loan fairly quickly.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

It’s the same kind of policy when you own a home through a trust.