I think the biggest concern for me is being sued by the tenant, but based on the article it seems like an umbrella insurance policy would suffice.

The difference between the two are that one has the ability to purchase property with a 20% downpayment (broker) and the other has to go with loans that require 25% down with a 15 year note.I have also read that some folks form and umbrella LLC and then put all properties beneath in their own LLC.

Insuance: I max out liability because I also keep an umbrella policy and that is required.

Focus on getting an umbrella insurance policy and the LLC won’t be necessary right now.

You use a parka and an umbrella.

I'm sorry, I couldn't resist.House to Home is our company & the umbrella name for 2 separate entities, House to Home Construction & House to Home Properties.

Double my money with interest annualized 15% interest for the duration of the rehab until sold.Contingencies:The property needs to completed within 30-45 days, put on the market, and sold by 60 daysMy solo 401 K is the second lien on the property.The property if not sold within 60 days the GC shall sell the house to me for the negotiated purchase price of $ 270,000.00 Property to carry umbrella policy to replace man-made and natural calamities.Should the cost overruns increase the lender's equity will proportionally increase.Is this a win-win for both parties if the deal goes south if the GC doesn't keep his end of the bargain of completing the project within 45 days and not sell in 60 days?

A banker will carry an umbrella for you on a sunny day but as soon as it starts raining they run for the hills!

I guess it all falls back to the golden rule of maximizing your umbrella liability policy as your primary safety net.

Is getting umbrella insurance sufficient.