Originally posted by Kevin Dickson:If you rent back indefinitely, it's kind of like owning it.Eventually it becomes so "old and cold" that you could probably get B of A to approve a sale back to you.BoF a's arms length agreement for short-sales can be googled if you want to read it for yourself, and it's very comprehensive in that it not only asks the buyer and seller to certify that there are no other agreements that would allow renting or re-purchasing the property- it goes a step further and requires the agents and the title officer to certify this as well.

If the LLC is sued, the insurance company will defend the LLC and pay any judgment awarded up to the limits of coverage.

Instead, I might want it to go to my insurance carrier so that they can defend me in the lawsuit under my liability insurance policy's coverage.

This is a comprehensive way to value real property.

Some ideas come to mind:-Setting up a LLC-Get a website up and running -Create a comprehensive business plan with 1, 5 and 10 year objectives-Get a cell phone (current employer provides my cell phone)-Talk to a CPA (girlfriend's dad owns his own accounting firm)-Start marketing to potentially motivated sellers-Talk to landlords to get a gauge on my future competition-Reach out to RE agents Wow, that turned out to be a bit longer than I anticipated.

I called a broker who advised me to add on a $80/yr coverage called vandalism.

(depending on the level of coverage that you sign up for).

Also if you are fully rented, you need to be able to show a debt service coverage ratio of about 1.30x.

The most important first question also discards any borrowers with any intent to use the funds for any household or residential purposeThis is not meant to be a solicitation, simply a general answer to a comprehensive question.4.

Send mailers, ads, business cards to Insurance Brokers: Policy changes from owner occupant to landlord or vacant house coverage. 61.