The CG can tell you if there is a need for an architect or engineer.

An example would be a professional type, say an engineer who had worked as an employee for a company and left the company a year ago.

If the new property burns down a typical Umbrella policy will not cover the cost to replace that house.

How to I make sure I don't get burned?

The structural engineer that made a visual inspection said that the property clearly demonstrates vertical settlement and recommends we do a manometer survey that costs $1,800.00 Do I just bite the bullet and pay for the survey?

They can ask all they want but as a borrower you also have the right to say NO,NO,NO.Negotiate for no pre-pay penalty, a burn off on the personal guarantee once you hit a certain LTV on the property, a 7 or 10 year fixed term with a 25 year amort, no cross collateralizing etc.You tell them what you want and call around until you find close to your terms.

If tomorrow the neighbor next door to your rental burns their house down, a tree falls on it, there's a major flood like @Brandon Turner experienced that only happens once in 100 years you would be better off having spent this $800 to cover 5 months of rent which is equivalent to $6400.

One thing led to another and this was the end result: So yes they burned the roof off and the house sat for two years.

I'm a brand new investor currently residing in Houston, TX and working in the oil and gas industry as an engineer offshore.

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