Yes - but if the policy is in the name of the LLC, the individual should be able to be named as an additional insured.

@Steven Hamilton II Thanks for teaching.

But you will have to do this in your personal name (conventional loans only for individuals), and will need to be able to carry the PITI of the new property in your debt ratio without receiving any credit for the rental income (due to lack of 2 years of experience, as I was mentioning.).

Maintenance depends on condition 5 to 10% o gross rents should do.Tag 1/12th each month or 1/4 every 3 months, consider what could go wrong.PMI is not tax deductible individually but is an expense in business.Consider 10% vacancy, estimate when it will be leased for the first time and put month in at the end it's a guess so you can delay income well, lots of ways to play what if.Any mortgage payments with that PMI?

Later, I was also in non-profits, with gut rehab to new construction, developments but not fair to compare with an individual flip, drew a salary, fees and benefits.

Our industry is a bit broken in that the real estate licensing schools only teach what you need to know about the laws and ethics, but nothing with regards to helping clients solve their real estate problems.

Hopefully it could teach me a thing or two and put things into perspective.

A bank can make a combination of loans, for acquisition, rehab, bridge loan and an end loan each with less expense than doing a series of financing elsewhere individually.

By IRA you mean Individual Retirement Acct.?

Well then I teach you my business, my secrets and then you go and become my competition.