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Real Estate: Rent Back Question

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  • #16
    it's generally not recommended at least on the books i read.. anyway, for liability, you got umbrella ins which should cover the lawsuits. home owner's ins generally should cover the building unless you fraudulent obtain it (which might be the case here). i don't know if the mtg company will like you to obtain a landlord insurance which generally is more expensive then home owner's insurance.
    anyway, this stuff happens because it's a seller's market. i have never seen the market so crazy.. i got price out of my crappy(working class) neighborhood. basically anything decent is 1+MM with some bidding wars + all cash deals.

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