My son has built this type of business and is very successful in it.

Materials are more expensive now than when the book came out. 

These are the rough numbers of a deal I’m currently underwriting:Purchase $78kRehab $40kARV $180kWhat do hard money lenders require in terms of types of coverage and amounts for this type of deal?

This type of loan will be recorded in your name, and you can change the deed to your LLC after it has closed.

But some type of refi strategy probably won’t work.

Having a LLC (a type of business entity) and setting up an umbrella policy (provides a specified amount of liability protection) are decisions you should make independently of one another.As someone who has previously worked in the insurance industry, you will want to do the following:1) Alert your insurance company that this house is now a rental.2) Make sure have this rental home covered for over $1 million in liability coverage.

I would suggest speaking with a loan officer who can break down the math for you to see the differences between these types of acquisition styles.

What types of properties do they usually handle? 

It have done both types of investing over the last 15 years and this is where we're at. $100k into 401k type funds that are worth about $150k now

Mi use my own cash for material