They are NOT going to make an owner whole unless you buy a replacement specific policy.So again, let's not jump to conclusions, just ask your PMC what legal reason compels them to depreciate tenant damage charges.

In general max LTV on 5-8 units will be 70% of the purchase price.

That was over 10 years ago and it put the kibosh on the purchase.

-Lease to buy @ $930,000 (currently appraised at $890,000)-2 year term with option to purchase at the end of term-Non refundable 3% option fee of $27,900 -Rent $4700/month If purchasing at end of term: Option fee applied to purchase and 10% of all combined monthly rentIf not purchasing: Option fee is non refundableSeller able to break contract anytime with 60 days notice if agrees to pay renter 2x amount of option fee.

I am an Asset Protection Attorney specifically for Real Estate Investors.

You're stacking risk factors - first deal, partnership, no existing revenue source, and making an off market purchase for the first time.

Yes, I should have been more specific it's at the city/county level.

They didn’t want to sell on the market because they didn’t want to do showings.A Win-Win Offer: These are the Terms that Were Accepted-$500k Purchase Price.

Purchase price: $177,000 Cash invested: $68,000

I am asking about a real estate portfolio specifically, not your overall portfolio that may consists of stocks and/or bonds.Do you build your RE portfolio based on a predetermined percentage of each asset class (ex. 50% residential properties 50% passive funds)?