But it seems like Sec8 has a "guilty until proven innocent" policy.

They get a fire or similar policy as generally that's all most HMLs in my area require, yet you have no protection from being sued with this policy.

The most likely way the bank is going to find out is when you update the insurance policy into your name.

John,You do not need all of that.What you need is a good commercial broker with a network of good lenders,title,etc.Each one of those types of assets of triple net you mentioned have their own finance structures.For example a pharmacy you can get in with 5% down and non-recourse with a 25 year term and amort.There are no rent bumps in almost all cases until the option period kicks in and it is minimal.Pharmacies are more like an annuity that you will own free and clear after 25 years throwing off good cash flow when it's paid off but being next to zero cash flow during the term..Until then you get depreciation.The lenders will usually go to DSCR of 1.01.With restaurants most are recourse unless investment grade and the lenders want a DSCR of 1.25 to 1.30.With restaurants you typically achieve rent bumps of 1.5 to 2 percent annually but because of DSCR are putting down 20 to 25% of LTV.How much money do you have today so far??

Should Buyer elect to carry out this offer despite such damage, Buyer shall be entitled to the insurance proceeds, if any, relating to damage to the property, plus a credit toward the purchase price equal to the amount of Seller's deductible on such policy, if any.

Now, mind you, I was applying the very first day, so they may have been regurgitating old policy and now know better.

Does the policy get taken out to the LLC or us as individuals?

For anyone on the fence with their ideologies, come to California and try out the progressive policies.. they don't work!

A standard landlord's policy will cover your property, your tenant should have a tenants policy.

Without policies for real job growth,and a plan to get America opened back up for business, I don't see where we will have the jobs needed to spur growth, or the confidence for buyers to jump in.