I would meet with a good CPA or attorney to draft up your business documents.

I dont know this for fact, but at the very least I would think the new GC would have to supply insurance info and licensure to L&I before anything is swapped.

(mitigated by insurance)4) Irregularly high vacancy rates5) Requirements for a capex infusion...new roofs etc.Thanks in advance!

As I'm preparing for this, I'm wondering what advice people have on home insurance--best companies they've found, or things I should be sure to note when I'm comparing plans?

Here's the numbers:Single family house in NE San Antonio. 1,456 square feet, 3 bed 2.5 bathPurchase price: $105,000Rehab; $20,000Hard money loan: $112,500Cash out of pocket (From HUD stmt):$12,500 (down payment)$2,250 (points)$385 (lender fees)$892.50 (title fees)$1,320 (insurance)-$2,001.34 (credit for unpaid taxes)Total: $15,346.16Actual rehab cost: $19,678.12Hold time until rehab and refinance complete: 98 daysInterest expense: $3,020.55Refinance loan terms: 30 year adjustable rate mortgage at 5.75% interest fixed for 5 years at 85% LTV and 1 point.Appraised value: $164,500Cash-out refi amount: $139,825Cash back in my pocket after lender fees, title fees, down payment, interest expense, insurance, etc are all accounted for: $5,389.50Now the place is rented for $1,200 a month and I figure I'll pocket about $200-$300 a month after expenses and mortgage payments and in the end, no money tied up in the deal!

I am looking at purchasing a 2 family property, and was wondering if there was a way to avoid mortgage insurance if I put 10% down.

We are currently under contract to purchase a group of duplexes and I am researching our insurance options.  

The highest offer wins, and you cannot back out of the offer once you've made it.Finally be wary of immigration laws and health insurance/benefits.

You need a place to live no matter what, and I can't imagine rents are very cheap in Portland, so you're usually better off at least having the benefits of a little tax writeoff and mortgage paydown while you own, plus being able to paint the walls the colors you want, etc.I'd hang tight if I were you, see if your market goes up a bit more over the next few years (which I personally believe many will, just my professional opinion,) and try to refi and dump your mortgage insurance (assuming you have it) as soon as possible.In the meantime, hang onto your $50,000, keep growing it, and wait for the right deal.

Because this is a non-judicial remedy, there are very stringent notice requirements and the legal documents are required to contain the power of sale language in order to use this type of foreclosure method.