The policy is triggered when one of the underlying policies (home, dwelling/fire, auto, boat, etc...) listed on the policy has a claim that exhausts its limits.

What is nice is that you can borrower in the name of an LLC, with high leverage, and rates that are extremely competitive.

Prices are extremely strong and inventory low in the range that makes sense for rentals.

This loan was extremely important for me while trying to leverage my lack of funds into multiple properties.

I'm in an extremely high demand area with little inventory so no one ever complains. 

He is extremely knowledgeable about the western and northwest suburbs, and specializes in working with investors. 

Biggest lessons so far are that people in general are extremely unreliable, and it is hard to find like minded people.

We have considered buying vacation homes all over as we love to travel and the income would be nice, haven't pulled the trigger. 

Then, after doing some math, I figured out that many of these properties would be extremely difficult to maintain a steady cashflow from and the looming risk of natural disaster was, well, looming.

How long after closing did you pull the trigger on the refi and would you mind sharing the perm lender that let you do that (PM if necessary to not get in trouble ;)]