Hi Mary Joe,I think you need to look into an umbrella policy for liability coverage, and make sure it is large enough to cover all your assets.  

I don't know which coverage policy I should be really looking into or have.

Consider an umbrella policy too.

Is there a Lender's Title Policy in force, part of your due diligence, if not, you may well consider that as a title matter can effect the perfection of the security, making the proper lien to secure the note, otherwise you can have an unsecured debt.Tax requirements by the IRS will require you to have a proper accounting of the transaction, similar to a HUD-1 in real estate.

He thinks he can get by with a $1 million umbrella policy and he does not incorporate or seek protection from an LLC.

I can simply state a policy, such as filtering by credit score, that anyone can follow without wasting time digging into individual credit reports hoping to find a diamond in the rough.

If the HOA has no priority in Arizona, they will probably always do it, or never do it, as a matter of policy.

If you're doing it to save a few dollars on an insurance policy for a few rentals, well, that just makes no sense to me at all, but it's your life so make the best of it!

Your $1,500 a year will become $400 and the debt against the property is covered by your policy.

I have a "no pet" policy in all homes, except for one in which I installed ceramic tile throughout the home.