Hey everyone,I closed on a new property on February, the tenant sent March rent by mistake to the previous owner, who refused to send it to me, saying that this covers  the tenant's past owed rent.I have an email from the tenant stating that this amount was intended to pay March rent, so I think that the owner has no right to apply it to the previous rent owed, since it's not his money.Do you think I have grounds for taking a legal action based on the tenant email?

They have to charge it to cover their fixed costs.

I need homeowners insurance, insurance to over my rental and umbrella policy (to cover me) for both of those if I’m correct?

only hope for the second holder is the owner continues to pay on first and the house starts to appreciate to cover her investment..

The price is so low that they cover the costs in the deal.

As mentioned previously, the biggest issue with it here will be that the rent covers the mortgage after you refinance.

If you self manage, failed to shovel snow, someone slips and falls, it's YOUR fault, not the LLC's fault.To top it off, he was sued for $3 million, and the insurance only covered the S Corp for one million, and ironically not him personally.

Tenant shall, at Tenant’s sole cost and expense, obtain renter’s insurance covering the full value of all personal property of Tenant in the Premises, and providing liability coverage to Tenant in an amount not less than $_________, which policy shall name Landlord as an additional insured.

If we can't cover the closing cost, do we go for a hard money lender?

We currently rent 1 of our 2 homes, but my question is will a lender be willing to lend someone a 3rd home loan so long as they have their other homes rented out to cover the mortgages?