Jerry,Depending on what the project is there are several options:- Renovation Builders Risk policy for the building & separate Liability- Vacant Dwelling policy endorsed to include the renovation- Homeowners or Dwelling Fire policy that will allow the renovationWhich option is best depends on the work to be done, duration, whether or not the building will be occupied, etc. 

Our policy is 'maintenance requests must be in writing' and will be taken care of in a timely (our schedule) manner. 

This was a really good reminder that we need to put together some sort of operating agreement and some other policy paperwork as well but I'm not sure where the best place is to start or should we just get a lawyer?

Also, try looking for a ZERO DOWN program that will help the buyers purchase with little to no money out of their pockets.

Hi allFirst off, and as a disclaimer, I have zero experience in commercial real estate as it pertains to restaurants and businesses, which is what this question focuses on.

I asked the bank to see if we can get a second approved appraiser but said that these are chosen randomly and is against their policy to get a second appraisal.

David,Insurance policies for flips are structured different than those created for buy and holds.Flipping policies will give you coverage during the renovation time period as well as any long term vacancy, usually more than 60 days.A buy and hold policy expects the property to be rented and can deny claims related to major renovations or during a long term vacancy.There are specialized insurance programs built for flipping that most flipper will use. 

Small operation the Property Manager will know you as well as all of your tenants personally.There is a trade off though.A big company is a proven entity whit proven policies & processes.

That title company will have no issue with another title policy premium as their exposure is already thereTell the rep for Chronos that the title policy is in the file located within their P260 system

If they are listed as mortgagee on the policy with their address then yes they will be sent a copy of the policy through mail.