That type of policy provides Liability coverage that takes over if the limits of your home, auto, or in this case dwelling/fire policy get exhausted. 

If you make it immobile, it can become a 2nd dwelling and could require your property to be zoned multifamily.

Thanks.The project scope includes the architectural and structural documentation for 2 new 3 story, 2 family dwellings, each with a cellar and rooftop deck.

Under this federal law any financing arrangement requires the purchaser of an owner occupied dwelling (one to four living units) is to qualify for any financing contract with a registered Mortgage Loan Originator.

In order to be considered "In Service", the dwelling must be ready and available to rent. 

My husband and I (together) jointly own our personal home in CA (we have a mortgage on it).My husband alone owns 1 vacation property in ME, 3 single family rentals in CA with mortgages, and 6 single-family rentals in IN.My IRA owns 2 single family rental properties in IN and 1 single-family rental property in OH.None of these properties are currently in a trust or LLC, they are just in our names and the name of my IRA.So far, I've talked to Geico and Foremost since we have dwelling insurance with them. 

@Wave Taylor  A dwelling unit does not need to have two (2) doors pass code. 

The property is zoned as R5 which says it can have 5 dwellings per acre.

I seriously recommend to all newbies to find a SFD (single family dwelling), 2 unit, or 3 unit first.

You say you like Johnny D. Well