“Lately” he bought a local restaurant seems to indicate a recent purchase, as such we can’t judge if absentee ownership will be successful - or not. 

Thanks Your umbrella will not protect you because an umbrella only kicks in when there is underlying liability insurance.You should be able to find other property insurance but if you can't or don't care about it you can purchase liability insurance only for the property.

Purchase price: $726,000 Cash invested: $1,300,000 Sale price: $4,500,000 We are developing a 4 story a luxury Duplex on Indian Rocks Beach FL.

@Bruce Ng- thanks  1) are you planning to pay the seller the difference between the purchase price and the FHA loan amt ? 

Purchase price: $249,500 Our first home turned first rental property!

If possible, keep doing this into your next property that you purchase.

Within the purchase contract, are there any specific criteria I need to call out (this is anew build, if that helps)2. for the agent contract, it says they will be the exclusive agent - I get that makes sense in the context of this property, but can they make themselves the exclusive agent we have to work with across Texas?

Now we still get 10% +++ these numbers are based on cash purchases.

Purchased for 725K.

I'm not sure the deal pencils at this purchase price (even with the vacancy, repairs, capex, and management fee being zero).