My Insurance Agent has strongly recommended that I put a Construction Agreement in place with my Contractor to shield me from liability, etc. 

We get free leads every single day on auto-pilot.Also, you are not looking for distressed properties.You are looking for motivated sellers.

I just noticed your auto seems a bit, well junky.

It's very cheap and not difficult to maintain bond/license/insurance.

I tried getting an umbrella policy to protect myself in case something happens but was denied since not everyone in my household is under my auto insurance. 

Understand the local permitting requirements, keep eyes on your property to avoid squatters, and make sure you have a great vacant insurance policy while you're renovating.

I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.

This ensures a clean transition of ownership and responsibility for insurance purposes.

It might have been bound but many insurance companies have put those new policies on hold if the purchase has not happened due to the disaster and letting the mortgagee(lender) know that the policy is on hold.

In speaking with our insurance agent, we decided not to make an offer.