"Additional Insured" on Insurance Policy to Property as CollateralHow specifically should a private lender be mentioned on the owner's insurance policy to a property used as collateral to a loan.

Build relationships with investors, create a safety net, and consider house hacking with roommates.Good luck!

Michigan has no laws about late fees, by you need to check your state & local statutes.Conceptually, if you don't have a solid Late Fee policy, you will eventually get taken advantage of.What we do as a PMC, much of it automated:1) Rent Due Date: first of month- Don't ever modify this as too complicated to track!

I'm self employed, no other "job"I have STR insurance policies that show a line item for Loss of Business Income.

It's an insurance policy that borderline applicants have to get if everything else checks out.

Are you listed as additional insured under their policies?

My current insurer is refusing to renew my policy due to fire hazards in the area.

Often, these are some of the hardest properties to get title insurance on for various reasons, and your policy may not be quite the same coverage-wise as what you'd get on a "normal" purchase on the MLS.

The purchase prices, lease rates, asset quality and neighborhood safety are not aligning. 

Also, remind them this is coming from a safety measure for everyone wellbeing due to the climate of crime near our homes.