Please kindly help to handle this the best way. 

@Nicholas Nakamura can you make a trip out there in person? 

Little did I know it would take decades to ripen :)3. bought a foreclosure sale .. traded the house for the 3 acres the person who owned the house. 

I am still personally buying rentals but I am not expecting much in the way of cash flow at the moment.

If the person stops making payments, they alas,  have to foreclose.

How do you plan on handling that situation6.

You’re still going to be personally sued when something goes wrong. 

Personal loan for renovations How did you add value to the deal?

A landlord policy can be a commercial policy or a personal lines policy.It's the same as asking if you should buy a single family rental or a 1 unit building.Focus on the coverages and disregard the name of the policy.

I personally haven't done this but I have helped clients do it in the past.Hit me up if you're interested!