For example, if you establish a rental property as an LLC, you'll want to set up a separate bank account for that LLC and consider having a debit/credit card linked to that account.

Yes each renter should have renters insuranceNote: if this is a single family and your renting rooms make sure you are allowed too.You have to register with the jurisdiction - if you do not and you try to evict it can delay and get very messy.3.

The general contractor then communicates directly with the bank to get the draws.I was told that it's typical for the loan to be able to close within 30-45 days, so slightly longer than with conventional mortgages.

I'm interested in L/O or RTO as a strategy but also don't want to bank on people losing out in the end. 

Do big banks provide this type of loan?

For rental properties, I would just use cash and then refinance or use bank leverage in the first place.

I would need bank financing or lender financing to buy the house.

You want to use the banks money and use that other 30% - 40% on another deal that should increase your ROI depending on how good of deal you invest in.

Banking on variables that you have no control over is speculative.

I have $25,000 saved in my bank.