I payed the fee to become a pro here, to have some skin in the game.I think I will become a buy and hold investor, as I do not need cash flow to live. 

The New York Housing Association (MH trade group) will also be able to educate you to a certain extent on these issues and then suggest you need to retain either a specialist law firm or a consultancy like ours to help you.

Soaked to the skin, cold, wet rain.

A tax specialist can tell you more3) You have unlimited liability instead of limited.

There are a few things that you cannot/should not do yourself, such as chimney work, septic work, because these can only be done by licensed specialists, require special permits and inspections (in NJ septic systems are signed off on by the Dept of Health and chimneys are inspected by the Fire Inspector) and you will never be able to sell the property if you can't prove that the work was done by the right contractor.

If so, forward that to your loan specialist.

My experience is that most if not all Personal Umbrellas "EXCLUDE" business pursuits IE policies and that a "Business/Commercial  Umbrella excludes coverage for personal policies, again please know I am not currently licensed and could be wrong but if an agent or broker is telling you different I highly recommend getting a copy of the "POLICY FORM" IE Specimen policy before purchasing and reading it if you'd like as someone with ZERO SKIN in the game I'd be happy to meet for coffee or a beer and go over the form with you and give you my thoughts. 

Hello Everyone,First time poster but long time reader of all the good information and advice on BP.Let me pre-face this by saying that I have reached out to some cross border tax specialists, and some I am still awaiting a response from, and some others have given conflicting advice.

There is more risk associated with this type of property therefore the lender requires more skin in the game.

I live in a rented apartment and the kitchen has always been the ugliest room in the apartment, the owner let me renew the kitchen cabinets.I found specialists in my area, I decided to paint them because it is a affordable option.