Insurance is for the unexpected.

You try to float any sort of inflated BS numbers past him about his own property, even by accident, and he'll get his back up.

I think to be on the safe side when running the numbers before a purchase I'll still put $2,500 down, I'm sure if there's money left over it will go somewhere else unexpected.

I did real estate since the early '81, by accident and design, I wind up profiting more in appreciation than cash flow.In NYC, I picked up triplexes in the 80's for below $200K, down payments of 30% or better, managed to cash flow around $10K per property per year, and over 20 years, made $200K thereabouts for each.

It's great that you were able to pull most of your money out and not run into to many unexpected issues while doing the Rehab.

It was an unexpected cost of about $3000 and a long story.  

Yes, both units are separate but on the same parcel.One of the agents showed one policy but it does mention it’s for both units.The second agent shows two policies, one per structure, and breaks down the approximate cost for each structure if they had to be rebuilt completely in case of a major accident. 

You may want to look for wording to indemnify clauses and keeping your business / or self safe for trips, falls, accidents on the property. https://my.mnbar.org/residenti...

Account Closed I was a Locomotive Engineer for 28 years and involved in a accident at work that resulted in several spinal fusions in both my neck and back.  

Hello community. I recently purchased a renovated townhome to hold and rent. I negotiated $17.5k off the asking price of $147,500 in hopes to get an appraisal value in that range to be able to finance with little to n...