In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

It is owned by a company who is selling via bidonhomes.com.

Check with your insurance company first - they might have an opinion on what you are planning on doing

Lots of companies that you don't have a choice in changing the wording of the contract or a choice in going with someone else have things like that in their contracts.

If you form an LLC, you'll have a new company with $0 of income.

@Imdhadur Rahman to get that kind of leverage on rent ready properties you'll need to find secondary financing.   

I don't want to ask the insurance company first incase it flags something wrong.

For these types of questions - it would make sense to start by getting some quotes and term sheets from actual hard money lenders (larger companies, found via google or the directory on BP) - can still do the private money - but these terms they give you can easily be the starting point - and you will likely get a lender to walk you through them for free anyway

Using leverage is such a powerful tool to scale your portfolio beyond what other investment options offer. 

Purchase price: $68,000 Cash invested: $5,000 Sale price: $99,000 4 Unit quad in Medina NYRenters were tough and management company's locations are too far for a regular check up.Had a renter pass away and then DCS came in and the house was condemned due to farm animals in the upstairs unit where the person passed.We were too far to keep tabs on this investment so we sold the home.