Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Looking at a 4 unit in Cicero, Illinois.Property cost $270,000Total debt is about $1000/monthMortgage if min down payment FHA (3.5%) seems to be about $1700Total debt = $27004 units currently renting month to month.Unit 1 $850Unit 2 $850Unit 3 $750Commercial space $1000Taking the 3rd unit as primary resident.Leaves about $2000 in qualifying rental income (property is self sufficient) @ 75%.Total debt -$2700 - $2000 in qualifying rental income = $700 remaining debt coverage.In theory, less than 50% DTI would hit the target @ showing about $20,000 gross income per year?.....

@Ammon JensenTypically the credit card companies will also want you to personal guarantee the credit cardsWill you have the sufficient credit and dti with all that debt to qualify ?

To change your rooming unit to a dwelling unit, it'll just be a matter of determining if there is sufficient density on the lot (and having enough parking; typically one per dwelling unit with some exceptions).

borrowers walk and lost all their equity.. rents dried up.. it happens. not predicting it.. but just like any small business and thats what rental business is you need sufficient reserves to get you through a tough patch

In other words, to ensure that lenders will have sufficient funds to timely pay the real estate taxes (or the insurance), the law does allow a cushion of two months per year.How now this could apply to the over charge in escrow? 

My good friend and business partner is looking to buy a new home, but he doesn't have sufficient funds for a downpayment on a new primary residence. 

The consumer economy is prioritizing the now and not the savings required to be sufficient later.

Importantly, it's not necessary for both LLC members to sign every lease; just one authorized member's signature is sufficient.

Yes assuming your credit and debt to income ratio are sufficient