Hi All,any advise from your experience on individuals breaking into an investment property? i recently closed into a property which I bought from another investor who got it through a tax deed sale. The original owner...

Everyone involved personally guarantees the commercial loan.

I read over a sample personal umbrella insurance policy and it says that they dont cover injury due to business property, and that business property is defined as residential property rented, or held for rental, to others.

It's a plus if they offer any good bundling options for an umbrella policy for 2-3 homes, as we're looking to get one for the first time.I know some insurers have been leaving the CA market recently so looking for updated recommendations based on your personal experiences.Thanks!

It sounds like you want to let the person live there for as long as they are alive and then the house converts to you.

There are companies who will offer lead gen services at a far more efficiency than a single person.

First someone new will be living with you and that requires adjustments.Second it's not just someone, but rather it's your in-laws which can bring stress to any marriage good and bad.Third your introducing a money factor into a highly personal relationships. 

With no experience and not crazy strong personal finances to pledge to the bank/lender, its doubtful many banks/lenders will provide the construction loan on a spec build. 

Obviously that person does not have your best interest at heart. 

Unfortunately my credit took a huge hit because I co-signed for someone’s vehicle and got burned with them missing 8 payments.