The reasoning for selling so cheap is because they had someone on a land contract who couldn't keep insurance on it and didn't pay the taxes.

Tyler, In regards to liability I would make sure at a minimum that your insurance is aware they have pets.

Some are automatically transferred from your Cash Flow expenses (water/sewage, insurance, property taxes) while others (electricity, HOA fees, etc) need to be added by you within the Rehab worksheet.  

Good morning fellow REIs,Does anyone have any suggestions/recommendations for an insurance company that sells liability insurance coverage for a vacant lot.

I have employees in my LLC, and prior to Obamacare, if I get health insurance for myself, I have to obtain it for my employees, hence the management under the C Corp with health insurance where there are no employees.

Morning fellow REIs,Does anyone have any suggestions/recommendations for an insurance company that sells liability insurance coverage for a vacant lot?

The on-boarding alone is another full time job.As Julie McCoy pointed out, the advantages (marketing, payments, time input, expertise, insurance, legal, website creation/maintenance, SEO, reach) currently far exceed the dependency disadvantages of OTRs.For all that value and time savings, I wouldn’t even bother too much circumventing their communication system to deal outside their box.

I carry insurance based on rental, tenants have insurance, and a personal umbrella on top of that. 

These panels are outdated and will likely affect our ability to get insurance, and thus a loan, on the property.

Insurance companies pay me to do it for them.