Your LLC won't be getting the loan if you form one, and you would probably transfer ownership into the LLC at some point down the road; at that point, your loan would be eligible for the lender to call the loan due in full due to the transfer (more commonly referred to as "due on sale" clause kicking in).But regardless of that, your lender will insist on you having insurance coverage for the property where they have given a loan.

The time required for rehab and marketing with the debt coverage taken care of at closing is fine, but to a limit, after 6 months you'll want to roll over that note to a scheduled payment, IMO.And, you need to provide your experience level and success in rehabs, a contractor's license?

Joe Bertolino - from my understanding, the "upgrades" involved in re-building a structure to newer building code are only covered by a policy with a rider for such - see link supplied:http://definitions.uslegal.com/o/ordinance-and-law-coverage/In other words, without such a rider, the building would get re-built to latest codes, but some of those upgrades aren't actually covered in the payout from the policy coverage.Is that true, false, or somewhere in between?

Has anyone solved this problem yet -- having the most comprehensive inventory available?

If there is a comprehensive development in place and private investors in tow, than you might know a little more - but the property values will have already moved up some, too...

The only thing you might want is lost rents coverage but you can talk to your agent about maybe getting an endorsement for that.

Anyone know what ballpark Umbrella Liability insurance costs and what to expect as far as coverage for rental houses and duplexes/triplexes?

Our carrier calls the coverage on our rental properties "Fire" policies.

,Captive insurance companies are designed for yes both tax savings to offset profits; however, the were initially designed to provide insurance coverage that typically cannot be attained or to reduce the cost of coverage.

In my opinion it is cheaper and easier to get a great insurance package (broad coverage and high limits) than to form and manage separate entities for each properties but I am an insurance guy...