I want to discuss asset protection as well as tax & insurance implications for LLCs, possible Due on Sale Clauses (as most of them are financed), Trust options. etc.

The insurance company is waiting on contractor quotes, the roof damage is tarped.

I want to sell a property for next to nothIng that may not be able to have title insurance on it.  

Many discussions with investors, lenders, insurance agents, contractors, etc.

Should they be insured?

Hello BP community, Seeking clarification if possible in regards to the internal documents held within an LLC.   

I’m closing on my first investment property in 2 weeks and I need to decide on what insurance im going with.

It has no bearing on what price the lender will agree to.Points to know....First, use an Experienced short sale Buyers agent....there are just to many things to look out for in a short sale.Find out how many mtgs/liens are on the property....many times a buyer has to pony up extra money to satisfy a junior lien holder, above what the first lender will offer them.Assuming all paperwork’s has been submitted, expect 30-60 days for bank to do a bpo and accept=counter your offer.Submit a gc repair estimate with your purchase agreement.If the comps are $200k, you’ll never get it for $80k unless there is a serious documental $100k problem with the property.

If I document all his payments and hand to lender, would this be considered income that can replace mortgage for approval.

Get's very messy that's why everything is always run through realtors.Knob and Tube not a big issue I have homes that are insured and have this electrical wiring.