I also assume you have homeowners insurance rather than landlord policy which is invalid if you’re not living there.

They have the choice of finding their own insurance or they can be automatically enrolled in my master policy.

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)

I had too many rush loans come in during that week the insurance and appraisal came in."

The Homeowners Insurance will include Builder's Risk.

A conventional renovation loans will allow you to use preferred contractors, requirements are they must be simply licensed and insured.  

The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.

They also have blanket insurance coverage which is much lower then policies in Philadelphia.

Here’s the situation:Purchase Price: $540,000Down Payment: 20%Mortgage Rate: 7.125% (30-year fixed)Monthly Expenses (Mortgage, HOA, Taxes, Insurance): $3,706Realistic Max Rent: $3,000As you can see, I’m currently short $706/month even with max rent.