It would be my recommendation to set up such an arrangement with a locally licensed attorney, and to fully explore the common mistakes business owners make which land them in hot waters.

Sorry to jump the forum like this with no history here, but I'm desperate for advice.I'm under contract to buy a fourplex in salt lake city (hot market), and the inspections have been a little nightmarish.

I will negotiate from a 6% though as the market is so hot there isn't much waiting to get 10-15-20 offers.  

Savings really only come into play when you've got a larger multifamily with separate furnaces, hot water heaters, other appliances, etc - or a commercial building and not so much with SFRs or smaller multi families.

Another variable is the condition of the local market (e.g. hot markets with higher prices bring CAP rates down). 

I️ look for funds where the goal of the fund aligns with the hot market trends.

Robin Schulz with that hot take.

With the market being so hot, it's important not to over pay just to get in a deal.

I am not sure i would sleep well with only $1m in umbrella.... saw a post where a child was scaled by too hot water in cali and got $3m judgement, and another big judgement because of broken door lock allowed an x boyfriend to enter and assault tenant.I think prepare for the worst and hope for the best is appropriate here.

When we bought our current (primary) home we didn't see any surprises in the inspection report, but did manage to negotiate for a new hot water tank/heater - which we knew was at the end of its usable life when we saw the house in the first place.