Please do send me a colleague request at your convenience, I could be a great asset since I am so local to you and am a rehabber.

Posted business hours, signage, registrations, license, continued education, insurance, bonds, cash assets and you may have reserve requirements.

Others (so as myself), are true hard money lenders, the asset alone is the basis of the credit decision.

(If you develop a reputation of buying distressed properties and improving them, you become an asset to the 52.

I remember a really good old thread about this subject and see if I can dig it up.

My advice is to segregate your personal assets/insurance from the investment insurance.

If you're confident enough with asset segregation in the LLC and not concerned about personal liability, then, just go without.Make tenants carry renter's insurance and reimburse them.Anyway, not that I'm recommending it, but for scenarios where a property is worth 50k in a isolated LLC, I don't see the upside to paying 1k in insurance.

1- Assessed value is a valuation for tax purposes, often has absolutely no correlation with market value, which is the actual value of the asset at a given time.2- Cash out refi of investment property is not possible in 2-6 months.

I'm pretty sure our tenants only wanted to pay a small additional fee for the space, but you may find someone who would find the garage to be a great asset to the property who may be willing to pay what it's worth to have the space.

That's not to say rents would not increase over time and viewing the asset from an income approach, but as to market, they go down.Mobiles are cheaper to get into.