Hi Robert,Given you are looking to buy another rental (long term), a cash out refinance on the existing property would be a good play here.

Once you’ve made all of the rookie mistakes and have your SOPs in order, you can go invest out of state with a game plan.

It would be good to talk to a lender to make a game plan and review your financials. 

The GC and the sub ended up sharing in the cost mostly (I think) because it was better than the finger pointing game that had already started, and realistically the attorney's were the only ones about to win...

It's a power play. 

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

Umbrella insurance will never come into play for Property damage (fires, storms, floods, etc.)It is liability coverage only.I'm an insurance agent and have seen umbrella claims from fatal car and boat accidents. 

He’d likely play the role of buyer’s agent, contractor, and rental listing agent—something we successfully did last June.

Hello Tiffani Hollis, Congratulations on stepping into the realestate game.

But that’s the game we play.