Yep ,sounds like a liberal lunatic policy to me

The second pillar is a good insurance policy as that cover the majority of your exposure.

I'm going with my contractor tomorrow to inspect prior to considering placing an offer.

Their reporting was top notch, which I appreciated (my prior career was financial reporting).

You want to know as much as you can prior to making an offer.

What the IRS does stipulate that all activities of the plan must be for the exclusive benefit of the plan beneficiaries.The IRS recommends the following criteria to determine if a plan’s policies are for the exclusive benefit of the plan participants: The cost of an investment must not exceed its fair market value (FMV) at the time of its purchase.A fair return commensurate with the prevailing rate must be provided.The investment must be sufficiently liquid to permit distributions per the plan terms.The safeguards and diversity that a prudent investor would adhere to must be present.So put that in perspective relative to the lending arrangement you are considering.

For protection we carry a $1million umbrella insurance policy. 

@Daniel MendezTagged wrong person in prior post.

When both units are rehabbed you could refinance prior to move out (when still owner occupied) and repeat the process (the last R). 

The only people I have seen lateral into the mortgage industry as an MLO with no prior experience are fresh college grads.