Undoubtedly, the vast majority would say, “the property along with a first mortgage at a very low Loan To Value.”While this is a valid answer, this is where most people blow it or at the least fall into the answer unknowingly, which still make this process hit or miss.The property and the mortgage are the collateral.

Go to your library and check out a couple of books on Real Estate Investing or General Contracting. 

I have not had good luck with the vast majority of inherited tenants.

Let the new resident decide for themselves.Yup...we always market these as:"3 bedrooms PLUS LARGE BONUS ROOM that could be used as FOURTH bedroom, Office, Playroom, Media Room, Library or Recreation Room!"

Value-add opportunities are vast, in any market. 

People do rent shared spaces, but the vast majority prefer their own space.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

I am working with them as well and the numbers are vastly different$30k to $33k for a lot (cash)$13k with a loan for construction (private money) closing costs$30k or so to builder to begin construction$6k in Interest Only payments at a rate of about 10%love to hear how you are getting to your numbers

Generally, an unrecorded document does not burden property acquired by a BFP.I think the term you're looking for is Florida is a notice state, as opposed to a race state or a hybrid race/notice state.An AOL is not title insurance since to write insurance you need to meet a states very restrictive requirements to do so and be issued a license.It clarifies your post, yet does not make it correct.To be clear since we are splitting hairs, 1 out of 100 is a euphemism for a vast majority do not require claims because people like you do your jobs correctly.  

Their bylaws are vastly different.