Hi Ayyoub-Great question and I am right up the road from you in Ann Arbor.Certainly, getting a conventional loan may provide slightly better rates than an investment loan like a DSCR loan.However, if you are buying income property you can use the income to qualify for the loan with a DSCR or Debt Service Coverage Ratio loan and not so much your personal finances like a conventional loan.Basically, you need three things.1.

I buy most of my main furniture pieces at Haverty's and I always get the extended coverage plan (covers spills, tears, etc).

Notify your mortgage lender and insurance company of the transfer of ownership to update financing and insurance coverage.

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

Even a request for people being successfully sued is unlikely to get a result, especially one that exceeded regular insurance coverage. 

If my memory serves, I believe I planned for $4000 for taxes and my insurance quote was about $1000/yr and had nice coverage (Kin is a great carrier for rates here in FL).

It appears this might be excluded from insurance coverage, and I am trying to look through disclosures and contracts about lead issues.  

This is what's surprising me at beginning of the year.The Milwaukee insurance agent called me hey your dwelling coverage should be 600k !

If yes, your title policy may provide coverage for the dispute, and I would immediately submit a claim to the insurer and have them determine coverage. 

Keep in mind you can also tweak some of the coverage amounts they send you, and you can sometimes get discounts for certain things like weather resistant windows, security features, fire alarm, etc.