Builders Risk is really designed for ground up construction, even though many investors are told that's what they need because they are unaware of more appropriate options out there.The renovators policy once again has you as the named insured, so that any claims settlements would go to you, the seller as the additional insured and the lender as the mortgagee. 

I work as a Busines Design Analyst for Whataburger (Texas' favorite burger) so I am familiar with the commercial real estate business, but I've never done any investing myself.My wife and I bought our first home in December as our primary residence and I am hoping to get started in buying multi-family homes as a way to create some passive income.

I designed a software package (no for sale) for market, rehab and property analysis to do the numbers fast for me.  

I wonder if having a bs in interior design/construction management would help with qualifications?

If you have any further questions or if I am omitting any pertinent info let me know Covenants of concern:- "Proposed house design to be approved by seller"- "No stockpiling of materials outside of buildings"- "No in-home business allowed"- " Exterior of house, outbuildings and land shall be kept clean and orderly"     there are others but they are typical and acceptable.

And just because this person writes a check to the board to get that totally unearned and absolutely meaningless designation as Realtor, how does this protect anyone? 

In localities having a winter design temperature of 32°F (0°C) or lower as shown in Table R301.2(1) of this code, a water, soil or waste pipe shall not be installed outside of a building, in exterior walls, in attics or crawl spaces, or in any other place subjected to freezing temperature unless adequate provision is made to protect it from freezing by insulation or heat or both.

You might even gain a business partner on a deal from someone you work with, and take a early retirement together to pursue the real estate life style by design!

If it is adjacent to transportation station and/or you are building for low-income, look for potential grants for TOD (transit oriented design), HUD or beautification-related functions.

CBIZ is insurance designed specifically for vacation rental owners, we have them on all 4 of our Vacation Rental properties.