HI Derek Check out my blog re Sub2s I don't know what NM laws are regarding recording the deed...In California you don't have to but in AZ where I buy properties I record the deed in an LLC to protect my assets but either way make sure you set up the safeguards I mention...I don't like lawyers getting involved... find a title company to handle the whole enchilada...Make your payments to them i.e.a collection company who in turn will service all the debt on the property....Any QA let me know

For example, are the following types of insurance necessary for rehab projects, buy and hold properties, LLC protection, etc.?

The zoning issue is if it is not zoned for duplex, but is grandfathered- lots of loan companies will not go through because of lack of security (ie-value not protected).

Recommend you get an attorney to draft your first one to make sure that your interests are protected, the partners responsibilities and duties, are documented, and cost and profit sharing is clearly defined for all the possible contingencies that may arise.You may need to also consult a CPA regarding the partnership tax return that your partnership will need to file.

The author lost me when he wrote, "In fact, some allege that the U.S. wants to protect this [currency] status so badly that it invaded Iraq because the country began selling oil in euros instead of dollars."

The only reason why I recommended the non-recourse loan, as you already mentioned, was to protect other properties that have been acquired via private money.

Is there a way to protect your property from being included in their declaration?

And also the best insurance terms would protect my assets the most.

It protects you and the buyer.

If the seller accepts your offer and said he will evict the tenants before closing you need to put the full amount in escrow to protect the seller.