Thanks for the info, I found out more about the LLC for protection vs an umbrella policy too.

Our mistake was not getting the previous owner to deal with getting her out prior to purchase.  

Liability CoverageThe liability section of insurance is fairly similar across the entire country.  100k is the minimum required on a policy, 300k is recommended, and 500k is preferred. 

We had seen this property 5 years prior in pre foreclosure, and couldn't make the deal happen due to being novice in the processes.

We had seen this property 5 years prior in pre foreclosure, and couldn't make the deal happen due to being novice in the processes.

I’ve bought two prior houses from her in the past three years.

Looking at a long term deal and wanted to get some feedback on whether this is a deal or not from people who have more knowledge and experience in that field.Details:ARV: $530k (conservative, top of the market $570k)Acquisition: $500kCondition: Prior rental, No major issues (roof, AC ,etc), paint & flooring need replacing, misc handyman fixes.

Since they were existing tenants and you do not have a no pet policy it is not a issue of denying the pet but rather whether the pet fee applies.

Just to answer the question in regards to the time needed prior to the refi. 

You want to be added as an Additional Interest (not Additional Insured) to the policy.