@Margaret Dreesen1) You typically cannot use the SD to cover damages while the tenant is still living in the property w/o the tenant's written approval.2) Even if tenant agrees, not a sound business strategy as now you have nothing to cover possible damages when tenant moves out.3) Filing a claim on your own insurance is also business-foolish, as now your claim will track you in the insurance world for about 5-7 years and if you have another claim - may lead to cancellation or spike in premiums.4) Tenant is 100% responsible for the damages!

One thing to consider is the value of the business / Business assets.

Depends.

Especially since I am currently sitting in one and very intrigued with this business model.

Your "business plan" sucks.

Private money is a proven way to capitalize portfolio growth but creates another business to administer.

Our long term goal is to become a business and own several rental properties.

a) Depends on above, but Detroit fits all the criteriab) Work with agents at a PMC that know investment real estate (we can handle)c) Work with a PMC that does renovations (we do)To succeed at the above, you probably want to work with a PMC that is fully transparent and supplies videos for property walk-thrus and renovation progress.

Would you want to do business with any kind of business that us purposefully trying to hide who the owner is?

Possibly incorporate a business.