The respective insurance company on each claim is bound to find out of the other policy's existence and could (more than likely would) attempt to invoke the "excess" clause of it's own contract, potentially leaving the owner waiting for courts/arbitration to settle...

That's my court date.

The reason that the risk is very low is that a successful investor will have the resources to handle whatever happens: refi if the loan is called, fight in court if the lease-option seller refuses to consumate the deal; etc.

If you agree to allow a tenant to paint, they can easily be judged (in court) to be your employee.

The case continues as he has appealed our winning the first round after over 2 years of legal battle.

They have painted, used power tools, measured and cut siding, placed trim, dug ditches, cut sheetrock, pulled carpet, filled dumpsters, swept roofs, raked yards, cleaned driveways and gutters, built walls, hung new cabinets, hung notices, sat in court, and so much more; if they knew it or not learned more hands-on Real Estate than any book could teach them.All that said, my 23 year old daughter wants to get into the business.

You can video skype it and save it for potential court!

Binding arbitration is a great way to keep costs down and keep you out of Court.

The housing stock is old (1880 - 1930) -- but I like to rehab, and the houses were originally well built and elegant with lots of architectural charm (appealing to renters/buyers.)How about you, Jerry and David?

I would imagine the court would allow them to break their lease as would you (im from Baltimore where anything is possible)