Exactly the reason to have an Architect on your team to join in on these conversations ESPECIALLY in existing renovations in older homes.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

Consult you insurance broker for specifics but I found this policy to be very protective and reasonably priced.With regards to an umbrella policy they are typically good to have.  

The main reason I decided to sell rather than hold was the rising interest rates.

For reasons mentioned above the post will not be removed for transparency reasons but thank you for sharing your experience and clarifying the situation. 

I tell ya those things grow legs every 2 years for some reason.

I agree that I need someone with experience, that is one of the main reasons I joined the forum.

I have sold some properties years ago on lease options where the tenant buyers actually exercise their right and purchased the property. ( I was in the deed.)The reason I am concerned to tie another person’s property up  with the lease option is that people can change their mind, as in the seller.  

The reason being they see no benefit and they do not understand it. 

Finding durable products at reasonable costs.