@Tom Kairys, one thing newbies miss is that it is much harder to get financing in the name of your entity vs. your personal name.You can get an umbrella liability policy and buy in your personal name, or buy in your personal name and then transfer to your LLC (risk the due on sale clause).All of these options have been extensively discussed on the forums and accessible via a few searches.

Obviously id like to catch the rates when they are low, rather than risking them going back up by next summer.

My advice, make sure the roles are clearly spelled out in an agreement that is signed by all parties involved.  

I currently live with them now, and it works out well (even though we all live in a single family home) but I have considered, what happens when the tables are turned and it's my parents living under me (even In a multifamily), and that is probably a whole different situation, especially when there is paperwork involved, thanks for the quick feedback everyone!

What is the difference between a vacant home policy and a builders risk policy?

I don't know the business, campground nor any of the people/ issues involved but found it interesting.

I'm heavily involved in the CLT market and anything you can get for $40k right now is a good buy. 

Edit: Unsure if this is best suited in Starting Out, or Investor Psychology...My wife and I are pretty new to this whole thing, and we have a lot to learn. We currently have 1 unit and it's working well for now. As we...

Two ideas:Solicit your list to see if you have buyers who will just pay you a "finder's fee" for a good buy & hold versus getting involved in the contract assignment or double-close process. 

Everyone is happy and it avoids extra costs involved with using Banks.