I thought I'd ask some of you that may have benefitted or been burned by such products.Thanks in advance!

Then Ordinance and Law coverage: this will add extra coverage limits to the Building property coverage value: the idea is lets say you have an older house that your flipping that burns down but, to replace it as it was would be in violation of the cities ordinances or zoning or codes, it provides the extra cost of modernization and legalization of your project.  

The burn rate has to be very high. 

It lets you pick the times you're available (no late calls about a burned out light bulb).

How do we prepare ourselves enough and not get burned, since some people prey on newbie?. 

I know I funded over 2000 of them on the front end   LOLBest you can do Is get a construction loan from a local lender who allows you to build in an interest reserve.. but even then best I can get is 90% of cost... there are no zero equity deals unless you find a very hungry HML or one that did not get burned in 07 to 2011

Bring on Toilet Overflow calls at 2AM.Knowing I only learn after I get burned, we are incredibly interested in learning from your experiences!

It didn't make sense to the point I labled my article I wrote on the subject, how I crashed and burned with an llc.

Lets face there is usully a burn rate involved in the start up phase and we look for a realistic game plan to work with or adjust to meet necessary expenditures and grow into their plan.

What if the home burns down in that time?