I think the umbrella is a relative bargain (and as you note probably lower risk for insurer as the underlying coverage may handle many claims) for the price (I use  RLI, and maybe your solution is as simple as a lower cost provider)...In my very short time seeing inside of insurance defense, I would see the guys that worked for the major insurers (who fought claims on a daily basis) up their own policies, so that was enough for me..  

@Major RobertsonWelcome to the vibrant BP community.

@Bill Gulley  the gps chip and disabling the car for non payment is used for Poor credit risk folks I know major car dealers who do this.. 

Chris,The majority of purchase agreements/contracts and/or assignment contracts being used in wholesaling contain items that could possibly be in violation of the respective States real estate licensing laws. 

Hi @Alex Miles, The majority of investors/taxpayers do not realize that foreign property can qualify under Section 1031, but the exchange has to be between foreign properties. 

The problem is that I can't find a home in the market I'm looking that isn't selling for above asking price, unless it has major "issues" as described by my real-estate agent.  

As I see it, you have two major mistakes here:You shouldn't buy a property with a problem tenant UNLESS the problem is fixed prior to closing.

I found one that I am interested in but it needs major repairs.  

Chase is a major commercial bank.

That is one of the major advantages of using a tenant-paid credit/background screening service.