So even though I have business and property insurance, I still keep a 5 mil personal umbrella.....

I actually handle market and analysis and acquisition due diligence for my company and try to provide that resource to all of our investors because we have seen a serious lack of this in our industry.

Have you confirmed insurance and taxes with an agent and the town?

Wholesaling is already a touchy industry, so adding in licensure will only bind your hands more. 

John keep in mind that is insurance companies paying for the new builds.. free market is not that high

If you have all of the education and experience and you're working for $30 an hour you're below industry standard pricing. 

BTW, I think the whole “must own in an llc” is a bit overblown anyway...keep good insurance, maintain your properties.

At 12mo+ that lease income will add to your income to help (not hurt) your DTI.in time you can REFI out the FHA once equity has built ideally with some cash out REFI, but the REFI will be conventional investment at 80% LTV.Its said that a 95% conventional is really a better product for those who qualify then FHA, which today the Mortgage insurance never drops off, where in conventional it will drop off when at 80% LTV.

Since her home was flooded due to an interal plumbing issue and the insurance company is paying to remodel the existing old (1920s) and dilapidated structure (could tell by looking at some of the 2x4 studs revealed in the partial internal demolition), I decided to find out if my mother can use the money should would receive from the insurance company in the form of a check, put that towards the remodel, and in addition secure a construction-to-permanent loan in order to fund the complete transformation of her 1 bed 1 bath 1,200 sqft home into a 2-story duplex that she can rent out, airbnb, etc.

That is why there are specialty lenders and why many larger community groups have created their own financing arms.I'm becoming more engaged in this forum as well as BP in general but I read a lot of what people post on here and I would have to say that when it comes to anything with Mobile home parks and MHP financing, banks etc, Ken Rishel knows what he is talking about and know this industry very well.