Actually, why I'm thinking about it, it's probably prudent to ask all partners why they want to do this instead of a publicly traded REIT that has diversification and instant liquidity (if needed).  

Further, look at providers who have a 25% extended dwelling coverage add on.

Overnight title and instant funding is for bail bondsmen.

If it's a dwelling policy, you'll be insured for the stated amount, no more.

More than likely the residential Ladue zoning code will prohibit a secondary dwelling on a single piece of property.  

Greg, when you own a rental property (regardless if it is in your retirement account or personally) you want to make sure that you have adequate amount of liability coverage, which comes with landlord's policy in addition to dwelling coverage.

The property was overgrown with trees, by simply removing the trees and cleaning up around the farm we had almost instant equity.

While a cash flowing property is great and gives instant results, the importance is in buying good deals.

I am now talking to the insurance company and I am reading more into the dwelling insurance that we have.

As one means to try and add to units to the housing market the State of CA now allows for "Accessory Dwelling Units" (ADU's) in many places.An ADU is a secondary dwelling unit with complete independent living facilities for one or more personsand generally takes three forms: Detached: The unit is separated from the primary structure Attached: The unit is attached to the primary structure Repurposed Existing Space: Space (e.g., master bedroom) within the primary residence isconverted into an independent living unit Junior Accessory Dwelling Units: Similar to re-purposed space with various streamlining measuresThe rules around ADU's can vary from city to city but in general ADU's are allowed in many zoning districts that are zoned single-family; they are often exempt from many Planning Dept requirements for parking, open space, etc; they often have a streamlined permitting process and typically cost less than building new rent-able square footage.I am interested in getting involved in this type of investing/improvements and would very much like to connect with others who are as well.