@Mary Bailey has mentioned the oft-cited 2% rule, which you just can't find these days here in the Puget Sound (if you can, clue me in!).

**Especially the authors of this well-researched piece of _*T%#^^&*(.

I found this nice chart on the IRS site...http://www.irs.gov/irm/part4/35960002.htmlI may not be reading it correctly, but under the "Trust or Estate (T)" part, it has a box that simply states Trustee of T.

Prod & Comp Ops is the coverage the Commercial General Liability gives you, and what the city wants you to carry.Bingo, that is the missing piece that every flipper must understand, your "completed work" is oft excluded in a "real estate investor" type insurance product.

If some jack-leg at the yard is telling you "its OK, its been inside forever" he is full of ***t.  

Moreover, I'm thinking a general discussion on the topic could be a resource for this ever-so-soggy investing community.I have some experience, my previous home was located in oft-flooded Bear Creek neighborhood.

Think of T-ball to Dodgers in comparison of your duplex to the current PIQ.

oft, I'm guessing your joking.

Yes Dan Hanlon who is @Emilie Totten 's co-worker attends our meetings.Emilie - I am sorry wanted to say as an oft client of Midland, welcome to the team.

The oft-cited $10k/month goal requires a $3M net worth using publicly-traded securities in a modest balance.