Whether the budget needs to be reworked, or you need to adjust the scope of work to free up money in one area to handle a surprise in another area, a great contractor can give advice on what will work best.You will find your business needs several partners to be successful.

Your most likely way to handle it from the Insurance Standpoint is to do a Homeowners policy in both your names. 

Pick something that you know you can handle.

If you are a complete beginner with limited knowledge and experience then I think it's best to hire a professional until you're in a better position to take over.Even the most experienced investor may be wise to use a property manager because the PM can handle the mundane day-to-day tasks while the investor focuses on building the business.

-The 2nd mortgage is note to the investor(s) that would be on a 10 year note for the DP-I can handle the financial risk the bank wants by securing against one of my current properties-I'm not too crazy about these ROI's. 

Self managing just means I am not working with a cabin booking agent, and that I handle all bookings and guest interactions myself.

My cash investor owns the home, and I was handling management and money organization piece.

I am a licensed commercial agent so I handled all my own paperwork along side my favorite title company.

I would advise having a real estate attorney handle the foregoing.

I send this message over to the wholesaler and it was too much for him to handle.