To a large degree, this is up to the bank's policy and risk appetite.

A few things good advisors do to justify the costs:Low cost well diversified investingOngoing tax planning and reviewing tax returns annuallyReviewing your financing options and giving recommendationsReviewing insurance policies periodically to make sure you have adequate coverage at a reasonable costMake sure you have an estate plan and it stays currentHelp you analyze you properties and determine what your rates of return areReview employee benefits and stock options to make sure you're taking advantage of whatever is offeredAnalyzing pension benefit options and Social Security optionsRetirement planning, college planning, charitable planning, etc.If an advisor is only managing investments, 1-1.5% is high.

I got a great policy with her and will be working with her for many years to come.  

The policy is thru Frontline

Confirm the seller is only paying $1,500 and not “mis-rememebring” and then ask for the same policy on the same property. 

With new lending policies and criteria though, it is becoming more difficult, but you can still do it.Here is an example, yesterday I bought a triplex in Phoenix for 240k worth 340k.

I went in person to Tenant B and explained the rental policies stating the premise should have quiet enjoyment by all neighbors.

Side note - I don't understand why hosts are strict on their cancellation policies.

@Freeman Schultz I would file on the tenants insurance first, and then and only if they don't cover, then file on their own owner insurance policy.

Not saying you are that guy, but the bad guys made it difficult for everyone in the future.Your mortgage probably does have a due on sale clause.You might be able to do some financing some other way....like pull from 401k to pay off the land and then owner finance....or get a HELOC on your primary to pay it off, borrow from life insurance policy, something like that.