@Brian EastmanThank you for a detailed explanation, very helpful.

There are some scenarios where they do not but it is rare and the explanation is long !

@Sandy Sandy @Bhavya ParimiAt a minimum, you want your policy to include General Liability, Property coverage & Loss of Rents.Here are very brief explanations of each and what to look for.General Liability – This covers you against claims of Bodily Injuryand Property Damage. 

Your Loan Officer, should ask you to sign a Letter of Explanation for any credit inquiries in the past 120 days and state whether you opened a new account from those inquiries.  

Here's an explanation of the process: https://www.nolo.com/legal-enc...Even with a PM in place, you should have a general idea of the laws and processes.

Joe's explanation of COC and cashflow above is pretty spot on. 

Here's a good explanation: https://www.legalzoom.com/articles/s-corp-vs-llc As far as choosing tax designation, Here's an old and good discussion on Bigger Pockets: https://www.biggerpockets.com/forums/51/topics/761...Some rules have changed since, but here are three takeaways. 1.

Account Closed Thanks for the explanation, your correct I didn't understand what I was getting into and they did not explain thoroughly.

This is on a Saturday and I think great, maybe there's an easy explanation.

Hi, This will be my first post so excuse any crude explanations or terms.