@luxe You do know that if you hire someone, no matter the size, even at an owner builder capscity, that you need a worker's comp policy correct?

Hey Bigger Pockets Fam,Need some advice in order for me to implement a policy for a duplex basement and a detached garage.

Gotta check city/county policies first.

You might aim for 2 such extensions for 30 days apiece.The additional deposit shows you're serious and not backing out or delaying with no reason.

Major life decisions could derail your willingness to stay involved in a house hack, so consider this carefully.Neighborhood: Which neighborhood makes the most sense for your price point and needs.Contractors: Which contractors you’ll call for common repairs.Network of landlords: Whether there’s a local network for landlords that you can participate in.Rental contracts: How to draft rental policies and contracts.Eviction: How to handle tenant eviction, if needed.Prepare Yourself FinanciallyThe point of house hacking is to create a financial opportunity for yourself, so you need to start with a strong grasp on money.

Definitely up the ante on your insurance policy, I recommend Proper Insurance for folks who are short-term renting their properties.

If you intend to live in a unit get to know the FHA  loan for 2,3,4 plexes and use that.Make yourself into the borrower they want, ratio's down, cash reserves--different lenders may haev a little different requirements between them.Some other smaller bank held loans (portfolio loans) may be 20% to 35% down.Focus on getting the down payments while keeping an eye on any net worth requirements the lenders may have for you personally.The more down payments you can get the faster you can grow.Many people hold their assets in an LLC, or LLC's (not a Corp), many others use an Umbrella Insurance Policy--it's a decision you will have to make.You are looking for Cash Flow.

So, if there's a slip & fall lawsuit, the only liability protection a PMC has is via your insurance policy.

I have a no pet policy which was on the lease.

Do you have loss of rent coverage on your policy?