I noticed my hoi coverage is for more than my mortgage on the house. 

If I am purchasing a non-owner occupied 4 Plex that is titled to my personal name. Shouid I get a personal lines, DP policy ? Or a habitational commercial policy? I have one insurance agent recommending a personal l...

@John Ho  I would use a third party and also make sure you structure the deal correctly.Good Investing...

@Sharon Ho I don't do any of your top 4 listed there!

At a minimum for assets, you'd need to verify the closing cost (minus up to 2-3% that the seller can cover), prepaids (last days of interest, escrow reserves, hoi), and 6 months of piti.6.

If you look back through my old posts, this is a big reversal from how gung-ho I was about it before.

The HOI calculation is a bit high but that is better than under estimating.I would also buy the homes all this year becasue if you buy some this year and some next year, depending on the time of year you'll need to show your schedule E income and that will be a totally different calculation. 

What about HOI, what changes with that?

Also, in regards to escrow I always use at least 3 Months on HOI and 6 Months for  Taxes Pre Paids - This depends on the timing of the year.Let me know if you have any questions.Regards,Joe Scorese

If the owner agreed to this and it is about 45 days from closing, is the liability of that tenant on me at this point and if so what can I do until I have HOI on the property?