Jon, the $30 per unit per month was for a 7 unit I was looking at - 44k annual rent, figuring 1% appreciation, 2% increase in income, 3% increase in expenses, -- the spreadsheet came up with approx. 14% "retunr on initial equity" -- 25% down payment, but negligible closing costs -- and I'd factored 25k into purchase price for cost plus improvements - see the calc at www.kenlavoie.com/realestate/ -- it's the only file in that folder.

Jessica, I switched my pm in NC due to her negligence, and the new pm I hired was instrumental in getting the deposits transferred.

Would the Insurance company pay them off or would they claim that the Landlord was negligent?

The breakdown:Price: 395,000*Rehab estimate: 100,000ARV: 500,000-550,000 (no good comps in area)PITI monthly: 3,413 (financing with a 203k loan, and hoping to refinance after rehab)Cash to close: 25,165Rental Income: 1700 (estimated based on someone I have already willing to rent contingent on a successful conversion of the one unit to a 2bd), renters pays all utilities except water.Monthly payment: $1713* after home inspection, I'm wanting to negotiate this down to 365,000 based on some serious negligence by the sellerI'm kind of stuck on how to look at a house hack.

Chances are, You would have to be pretty negligent with the management of the properties to get a claim beyond the $2m mark on SFR.

I'm rebuilding part of the basement right now because of a mold problem which was mostly the tenant's negligence.  

Had tenants think they would, guess if any saw an attorney the attorney told them they didn't have a case, that I wasn't negligent.

I do so because although an umbrella policy works just fine for liability reasons, there are other situations why an owner may want a second barrier of protection between them and the tenants.The reason for an LLC is in the rare case of negligence, the tenant will be limited in the amount of damage they can cause financially, it will be restricted to solely the assets in the LLC.

In that case your liability coverage should kick in.If the guy mowing got hurt the quest then is were you negligent?

My seller's agent said it's almost negligible.)My price is cheaper than any other properties around.I don't think you can assign a HUD property.Yes you are right, Wayne.