I am focused on using private/hard money to purchase the house outright and then refinance to pay back the private/hard money lender. 

With out all the competition in the metro area, Absentee Owners could be a pretty good bet since you won't run into as many investors mailing to them. 

I'd be a little more worried about the 2.7x rent.  3-3.5x rent is the safer bet.  4 dependents on one salary is also a big red flag. 

You can either reach out to me at my number below (text for fastest response) and/or I'll private message you his contact info. 

If you didn't over-pay for the house and he didn't charge you closing fees I'd just adhere to w.e he says....Your best bet is to post on Avvo and see what the lawyers say (its free).

I sent you a private message.

I bet the big ones go every month.

I make friends of as many people: prospects, sellers, buyers, private investors, that I meet along the way as I can.

Your best bet is to first gain an understanding of the market by taking a sample set of similar properties and determining how the different features impacted the overall value of each property.

I'm only nearly 5 mos in on my venture but we need to carry the following for our residential care (assisted living)  licensed for 41 beds - but we can hold 36 beds in our current configurationGeneral Liability (We buy through an independent broker - basically covers medical malpractice, any slip/falls etc)Workers CompAnd even though you arent interested - Non owned auto insurance in case staff use their own vehicles to run an errand etc, building insurance for wind/hail etc inc general property liabilityAll of this runs around $33k to 36k a year for us - thats before health insurance for us etc - Work Comp is the most expensive part of that mix.Your best bet is likely not to find the coverage by calling yourself - you'll just waste your time - find a broker that can sell you this insurance - as far as limits - some of the limits are state mandated and will be in the regulations.