I ran all of my numbers that night.

I don't carry any other type of insurance because there is no ongoing work or any buildings.

The bad experiences far outweigh the good experiences.Here is a link to a recent thread that also links to info on an ongoing lawsuit against the companyhttps://www.biggerpockets.com/forums/51/topics/668849-fines-penalties-for-brokering-without-a-license?

Since you will have the final figures several days before closing, you should have plenty of time to get the bank check and be ready for the closing date.Additionally, you need to be aware of wire fraud, which is, unfortunately, an ongoing problem in today’s world.

Cons: Ongoing Fees, Paperwork, getting comfortable with the structure. 

I ran across an interesting read.https://www.themoneycommando.com/umbrella-policy-vs-llc-asset-protection-part-1/

Then when I ran into a problem like yours, which happens a lot with banks, I would just put it on my credit cards until I figured out another solution. 

I just closed a construction loan with a local bank where I’m also doing a full $300,000 rehab and they were able to give me fixed 4.99% for 5 years with a 20 year amm...I couldn’t find anything better than this so I ran with it.

You will have ongoing drama and be replacing tenants regularly.

If you don't plan on going and you start building assets by buying a house hack or investment property you are going to be significantly ahead of most of your peers.