I'm not in a flood zone, so I know I don't need that.Any help sorting out my confusion is much appreciated!

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Originally posted by Account Closed:Sure.. it does seem though that the contractor's coverage 'should' cover the sub contractors as the licensed contractor sort of 'has' to have insurance. 

The purpose is to provide a sort of freeway for the water to have somewhere to go before it starts building up behind the wall and leaking into the living space on the other side. 

Perhaps you can do some sort of combination.

If you own the building in some sort of corporation then you are still having income and may have corporate tax depending on how you structure it. 

So pretend you were the operator of a utility service of some sort.

This does not suggest any sort of recovery in the economy, and frankly, it suggests that house prices are being propped up with investor money, that is bidding higher and higher.I cannot believe for a moment that this is sustainable, especially since most of these investors are leveraged up to their eyeballs in debt, and if the market rate for rent goes down, there will be some extremely sore investors out there.However, it is nice to know that when the market corrects again, our strategy of building a war chest for failed investment properties will make us a good return in the future as it did last time round.

Presumably the option fee the seller collected up front and the rent they've been receiving for two years makes up for getting it back.If you're going to be in the middle of this sort of a deal, getting sued by the buyer or seller or both is a real possibility.

I do generate some sort of income on this property in part of that I am renting a room out to a guest, but I do not want to bank on this person to keep me afloat.