Because they say you must.https://www.youtube.com/watch?

As you read these books, watch the BiggerPockets podcasts.

There is only one time we did not close on a house we had under contract with a wholesaler - this was due to a title issue, and we received our EMD back because the seller/wholesaler ultimately could not uphold their end of the contract (inability to deliver the property).  

At closing I paid all of my insurance for the year so right now it is closer to $600/month.

Hey Ben, we closed about 4 weeks ago- been doing cosmetic updates every weekend since then and should be ready for our first rental in October!

@Nathan FrostThe advantage - some will do 90% and 100% construction but recognize your signing a personal guarantee and will be paying 10-12%+ for interestBenefits of a private lender are speed to close, creativity in cross collateralizing etcThere are a lot of people on BP that think oh private lending is less strict than banks and easier to get.

As you read these books, watch the BiggerPockets podcasts.

- Will your net worth growth from tax advantages, annual property appreciation, debt paydown, etc. be worth the upfront investment (i.e. down payment, closing costs, moving costs, renovation expenses, etc.)?

Often, I have borrowers make an LLC during underwriting so they can protect themselves post-closing. 

I just recently found one and am currently under contract on a 3bd/2bth w/ an ADU....been looking and watching the market weekly, if not daily for 8 months.