These are weak protections, in my view.My better answer is much more straightforward: keep your life simple and NEVER lend in second position.I know several lenders who seem to always lend behind our first position loans.

I went into my PM brokerage account (using my smart phone) and placed a simple trade at noon today.

Last year's online tax return (turbo tax) was fairly simple from what I recall, as I had no major confusion selecting that I lived in the property and also rented it out.

We would like to keep it simple and start locally in central Florida area.

@Steve Maye Subdivides can range from a very simple split to a complex development.

I use a simple spreadsheet that captures as many "comps" as possible to include many data points.

Finding good deals isn't as simple as searching on Zillow or the MLS. 

I've seen people put up a simple post in these groups, "Looking for cash buyers in... 

Very simple but very important.

@Pete StorsethThe question seems too simple to answer: it starts when you sell it.