You are going to make mistakes and you want to have enough of a cushion to be covered.

Great Decision @Shelly F.I have been investing in the N/NW Suburbs of Chicago since a year now.I focus more on creative financing and Subject To buying RE strategies to acquire good properties in nice neighborhoods.

WOW - Just emailed my insurance agent this post with "am I covered for this?"

There is a promissory note, and a Deed of Trust for the transaction, and if you look up the property in county tax records, she is the owner and his name isn't reflected anywhere.She owes a minimal amount on this home, and if a tornado or fire takes it down, she understands she is not covered, and theory still owes him for the balance, even though he also understands he'll never see that money.What would you do? 

My understanding is that I'll be able to get a tax break on 60% of the cost at the end of the year.I also assume that it's best to pay for the repair out of the rental business account if I can, but I'm not really sure:Since my renters are just moving in, they haven't paid enough into the business account to cover 60% of the roof repair. 

I pour all positive cashflow back into the heloc as my W2 covers all living expenses. 

Hi thereI'm a South African currently living in the Cayman Islands looking to get into the US market.As a non citizen / non resident I am struggling to obtain 30 year finance at decent rates in the US.I am investigating the possibility of using finance from back home to cover the cost of a unit, then refinancing in the US to squash the mortgage back home and effectively backdoor finance in the US.Does anyone have any experience with this, and have any comments in whether US banks may be more willing to provide refinancing to an already purchased asset held by a foreigner?

My main cleaners do the laundry and use laundry service (they cover that) or on the smaller unit they take it home to wash it (sheets, towels). 

It depends whether or not the property is a rental and the tenant's payment is covering the mortgage.

For the low cost of umbrella insurance, and how much it covers, I think it’s well worthwhile.