Those that said yes, and maybe today, said that the policy may potentially cover it depending upon the details of the allegation.To your point about E&O and professional liability; Sure, E&O and Professional liability coverage should be purchased and carried by real estate professionals.

It's not how many times we stumble that matter, it's  how many times we dust ourselves off and carry on. 

I think getting multi-family and turning into a STR could be a great business model and is something I’m looking into currently, but it carries more risk for sure.

If you can only do seller financing, much more data needs to be looked at to see what might work and why.Agents do carry some off-market (In CA, pocket listings), but those get blasted to lists of qualified investors they already know.

One other good point @Tim Herman brought up is rangeland carrying capacity.

That way, you’ve got person or people hopefully carrying all of your note (and the more units, the less vacancy is a big deal) and you still get your own space.

The issue is how to split the carried interest or "promote" that the deal will produce to compensate the sponsor group as well as how cashflow is divided.

I now owe about what it appraised for ($145k) and my carrying costs are way higher than what it's bringing in after expenses. 

I'm sure you are aware, this carried an inherently greater risk different than a typical Architect-Client relationship.

., @Jason BottThe response I got from my lender was as follows:If any portion of the parcel is within a flood zone, flood insurance will be a requirement.If a survey is carried out and shows that the footprint of the improvements (buildings) are not in the flood zone, the requirement for flood insurance can be mitigated/waived.Thanks for your input.