The Bank also communicates with the title company to order chain of title and require lender/title insurance. 

However, I love a project and can be handy so I will not shy away from properties that require some TLC. 

Never realized lender would require LLC but it makes sense given the size of portfolio. 

In addition to this, you should be able to find zoning ordinances and/or specific building codes that the city requires or has adopted with respect to what they allow or do not allow for ADU's. 

Of course, this requires mutual trust and written agreements, but any joint business does.The only situation where a true partnership and an LLC is unavoidable is if you also split costs, not just the fees.

But, the owner occupied property is different because you will likely have to use a conventional loan which requires 12 months seasoning (waiting period) to use the new value but of course that 12 month would start from when you buy the property so it will obviously take you some portion of that 12 months to build the house.  

Hello everyone,Bigger Pockets provided a lease agreement for Arizona which has an option to require the tenant to a include liability requirement in their renters insurance.I'd like some advice to help me understand if I need to include a liability amount as a requirement and how to adjust this amount for different properties.Thank you in advance!

It's important to note that you aren't required to keep receipts for purchases from your business credit card or bank account.

Both parties were right–and wrong–simultaneously, and it required a lot of hand holding and collaboration.

It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it!