Errors & Omissions (E&O) insurance isn’t legally required but is essential to cover claims of professional negligence.In Maryland, the requirements are similar.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

Which essentially means you only put down 2.5% down on multi-unit.

Other advice, especially that pertaining to tax benefits, is also highly appreciated!

You need to do a cost-benefit analysis to determine if it's worth it.  

If you're only really working your local market, and mostly driving for dollars, and want essentially a 1 stop shop that can do most things pretty well, then Deal Machine should work for you. 

Being able to shuffle leads from MTR to MTR is a huge bonus and you can benefit from the economies of scale faster. 

I plan to refinance in two to three year once rates come down a bit.That said, I need to be very confident in my numbers on the hotel, since I'm putting risk on my other properties and essentially wiping out their cash flow.Happy to connect.

Regarding the payout inefficiencies, I remember the nightmare that some folks were experiencing with state unemployment benefits during Covid.

Be ready for continuous learning and remember that networking is essential in this industry.