I found BP earlier this year and immediately knew I wanted to create a life that would lead to more/better opportunities to eventually invest in real estate.

Growing up I was not sure what I wanted out of life, my way of thinking was "I am only 20, I got time".

Growing up I was not sure what I wanted out of life, my way of thinking was "I am only 20, I got time".

I had good relationships with my Realtor, insurance broker, and contractor.

And he misses out on all the benefits of it being owner occupied, like tax exemption from capital gains because he doesnt actually own the property.I bet he isnt properly insured on the property either, because if he insured the property in the llcs namr, the lender would have been notified of the change in coverage.

Good afternoon,If a tenant fills a claim does it always go to the owner s insurance or is the Property managers insurance also responsible ?

While it depends on how you learn (I’ve never read a book on my life about apartments.

They are instructing the homeowner to contact their title insurance company and file a claim so that the taxes can be paid, and if you don't have title insurance or the title insurance refuses to pay; you're SOL and have to pay the back taxes and maybe interest also. 

Hi Ryan,Here is how I calculate the reserves for these smaller multifamily deals (I own three 4plexes):Essentially, I determine the remaining life of the major items, like HVAC, water heaters, roofs, siding, etc.

What we read over several blogs is,1. if we have to take out plumbing and electrical permit, we have to have a building permit2. if we ourselves take out permit then we are responsible for all the work and insurance etc.I will definitely call the building dept