Cost, Time, etc.Need to have a umbrella policy for the duration.Need to quitclaim back to LLC possibly.

If your interviewing and hiring someone you don't know then I go with a fidelity bond to go with with your business umbrella policy.  

Hi, I was wondering what I need to know/where I should look to find a house/land where I could legally grow large amounts of outdoor marijuana, because my friends and I are trying to start a business. 

The way I get paid is simple, I don't charge anything up front, I'll just do a deal or 2 with them and split 50/50 so I make money, they make money and hopefully I've built a relationship with a future full-time investor to do other/more deals with in the future....My biggest hurdle in helping a newbie out is getting them to quit being lazy, I don't know who's out there spreading lies about making millions in real estate while drinking fancy drinks with little umbrellas in them on the beach.

I also agree that DTI is one of the many causes under the umbrella of underwriting but I can't say it is the main cause and my point to you - is in this thread anyway you haven't convinced me - not that is your goal or purpose here.

If so I presume its in your name and not a LLC/S-Corp, I assume you cant' justify/afford a $1M liability umbrella policy with the proceeds from this if you get sued.+ Are you managing it?

Yes, recording a lien to strip the equity or/and buying a liability umbrella policy up to $2mm or something for the entire year.

On top of that, it's always been a bar/grill type place, and they have completely gutted it, from kitchen equipment down to the outdoor deck/patio.

When speaking with the clients ask them two questions: 1) Did he finish on time 2) Did he stay on budget, if not how far off budget was hewe once had a contractor who was a "friend" start an elaborate and beautiful patio cover for the outdoor kitchen my husband built.

We carry umbrella liability on the LLC and each property is added to the policy as they are purchased.Based on my prior business life, I understand very well that one should have liability insurance of at least the value of the assets being protected.However, past a certain size, say 10 properties, it seems prudent to create a second LLC, third LLC, etc, in order to keep liability spread out a little and to in effect, increase liability coverage.