I recently helped 3 of my clients find coverage for their portfolios between 10 properties and 51 properties, so it can be done.My suggestions is to find an insurance broker who works frequently in the real estate investment space, who has the knowledge of coverage, AND the available companies to be able to help you now and as your portfolio continues to grow.For your second question, I would also 100% suggest looking into implementing an umbrella. 

Hi,I've noticed that it's not uncommon to see homes where the garages were converted into separate living space.

This space has a wealth of information.

I couldn't let the LaPlante guys get all of the space on here :) I look forward to seeing how you flourish! 

I began to rent this space as my first ever foray into being a landlord.

We have done this a lot in the land contract space but only 1x on a rental and for that 1x it worked out fine. 

The loan has already gone through so you get the house hack + the rent for the space you would have lived.

The two rentals would have their own outdoor spaces and separate entrances, but one is directly above the other, so I have concerns about privacy.I think it would only be worth it if the basement apartment can be added to the square footage of the house because then it would add equity which we could use to do a HELOC to recoup the cost of the remodeling work.

I am getting my license to be an agent this summer; I am just stuck in some dead space right now as I am moving to Sarasota, Florida in September so am looking for something to do in the meantime.

Multifamily has been a very strong sector since the pandemic so there is and will continue to be a lot of competition in this space.