You will need a commercial loan, and commercial insurance policy.  

LLC: Not necessary for this, I would get really great liability insurance (but ask a true lawyer, as I am not one, unfortunately).

Hello James,I am not sure if it was mentioned here or not but Section 8 tenants are backed/insured by the government as far as damages go.

If we sold we would likely move back to the states in two year in the hopes of buying another property with the proceeds from our sale after the market possibly cools down.

You need a great lender, insurance company, inspector, contractor, title company and real estate attorney.

The owner contacted me because he had no insurance on the home and he is living in an rv on the property.

Hi Julian, don't worry, you'll be fine assuming the seller can cover them with their proceeds.

Time to renew my business general liability insurance Thought it might be a good idea to post here see if i can get some better quotes and save some money

Most have no license, no education, and no insurance.

Then add ALL costs related to holding the property (utility costs, insurance premiums, property taxes, loan payments, etc.).Concessions: Concessions are what you give back to the buyer at closing.