Sorry to those of you who think this is intrusive, invasion of privacy, or some other lame excuse for not doing the work required to protect yourself.  

My limited experience in the note business albeit only 40 years.. says CASH equity is the trump card ( yes I love Trump cards).. every thing else is just Bull  Fico etc etc it comes down to protecting your cash.. that's what I have learned in all these years and 2,500 plus loans on this stuff.What say you ??????

From an outside perspective, his need to protect is being threatened.

One version is 2 pages long and easy to understand, the other is 6 pages long and has a lot more confusing verbiage but seems like it could protect me more?  

It is not to find an independent value for the property.It exists to protect the lenders investment in the property.

Other than working with my attourney to ensure that I am protected, please offer some general advice and information.

There are benefit to finance under commercial loan which you mention  under llc  for asset protection. but negative impact will be higher rate.

I know it's my newbie, hungry to make my first deal and get the ball rolling voice telling me to jump on this but I also don't have a cushion to protect myself or family if things go wrong. 

- Up-front cost difference- Energy (heating) costs- Comfort- Resale value impact- Anything else that's relevantWhen I say crawl space, I mean a non-ventilated, moisture-protected (vapor barrier, waterproof spray, and sand/gravel), heated space, NOT the dirt-covered, ventilated space of old.Thanks!

I think these laws are a good thing for the buyer's protection.