The insurance company wants to understand the limit of their liability and those documents spell out what the HOA says they will pay for and what they will not.  

The big "rule # 1" is to not pay them all in advance.  

I am also a real estate agent now who will be able to buy and list my own properties..I would like to BRRRR if it makes sense on the refi to pay off the LOC, or sell for a quick turn around.Thoughts/suggestions?

At first I assummed the late rent would get resolved and they would be in better shape to pay on time, unforuntatly, its been 8 months of the same late rent. 

Definitely not an exhaustive list, but those are trades that I'll waste tons of time on and likely do subpar work when I can pay a pro who will do it in 10% of the time and the labor costs are pretty reasonable. 

I'm curious with already-in-place commercial tenants, besides checking that they are paying on time, is there any other due diligence you do on the tenants before purchase?

I don't have large money to pay off the that lien.

The issue is less about piercing the veil, and more about giving the insurance company an excuse not to pay out because the LLC is not the primary covered.

Flipping is 10x the time that wholesaling is, in or out of state, and if you don't pay attention you will lose and lose on contractors.A first flip will take you 2-3x longer than you think, cost 2-3x more than you think, and one contractor will walk with your money at least.What you are trying to do is to create a side hustle in real estate, but you are biting off things that you don't have time for.

I'd say yes, you pay for it in the rate though.