The Lubbock market is a little slow right now due to overbuilding of new multifamily so you want to make sure that you buy in desirable areas or you may be waiting a long time to get your property rented (or worse, get bad tenants).

I read over a sample personal umbrella insurance policy and it says that they dont cover injury due to business property, and that business property is defined as residential property rented, or held for rental, to others.

-Location: Focus on properties in desirable neighborhoods with strong rental demand.

If you're interested in exploring how to best leverage your savings in both real estate and the stock market, feel free to reach out for a more personalized discussion.Best of luck on your investment journey!

It's a plus if they offer any good bundling options for an umbrella policy for 2-3 homes, as we're looking to get one for the first time.I know some insurers have been leaving the CA market recently so looking for updated recommendations based on your personal experiences.Thanks!

It sounds like you want to let the person live there for as long as they are alive and then the house converts to you.

Positive cash flow the entire time I owned it and it gave me the desire to buy more.

There are companies who will offer lead gen services at a far more efficiency than a single person.

Obviously that person does not have your best interest at heart. 

With no experience and not crazy strong personal finances to pledge to the bank/lender, its doubtful many banks/lenders will provide the construction loan on a spec build.