Lessons learned?

The outcome is going to be a clean rental property bringing in $1500/month Lessons learned?

Most of our Insurance Carriers will insure a rented Condo Unit on a Dwelling/Fire policy (some companies call them a Landlord policy). 

Some jurisdictions have weird laws, but I would be highly surprised if anywhere mandated that a tenant notify you if they were fired from a job.  

in process Lessons learned?

I would have preferred to have had some deals lined up but I figured nothing lights a fire under your butt than having an increased mortgage payment that isn't earning you anything!

Engineers focus on systems and design, calcs, and safety measures for the most part.the folks above are correct in that the rules should be somewhat similar.

This was a perfectly executed flip pertaining to the purchase and sale of the property.Purchase: $66,000Rehab: $64,000Sale Price: $182,000Closing Costs: $11,375Profit: $40,625 Lessons learned?

I suppose this could back-fire and he could think I have no idea what I'm doing, but seemed like another good way to leave a good impression.

Normally you will be quoted a Dwelling/Fire (also called Landlord policy by some carriers) policy if it is in the Personal Insurance area.