Conventional lenders in Canada will require you personally guarantee any financing to the corporation, but we've never encountered a problem obtaining mortgages due to the properties being in a corporation.Now, if the corporation is undertaking a JV with an individual, we have encountered lenders who will not allow a corporation and individual to jointly take title or hold the financing {there is no legal restriction here, it is just an internal lender policy} when financing residential properties.Similarly, if you have more than 2-3 shareowners or partners, our experience has been longer vetting and approval processes from lenders when pursuing residential financing.    

Is buying an umbrella policy a standard practice amongst fellow investors?

It is not a kitchen remodel, just the countertop needs to be addressed.Tenant is movng out mid Feb and I started to advertise and already have people wanting to apply with only seeing the pictures - I don't show property until tenant moved out as a policy. 

You will want to see the rent roll, expense report, IRS Schedule C, Tax history from the assessor, Insurance policy and invoice. 

If the zone begins with A or V, your mortgagee will be looking for a flood policy.

I wonder if they deliberately underquoted me so that i'd choose their policy over their competitors? 

For one we didn't have a 'no cash' policy in our lease.

I spoke with a rep from my rental property  homeowner insurance in AR (Safeco) to get a quote for a personal umbrella policy. 

A Land Trust provides privacy and avoids probate.You still need a business insurance policy.

The first pillar is a good insurance policy as that cover the majority of your exposure.