Here's an important post on the BiggerPockets blog from our resident real estate attorney blogger, Greg Boots:The Asset Protection Misconception: Why Insurance Alone Isn’t EnoughBe sure to follow all of Greg's posts on the blog every Wednesday!

triple net refers to commercial leases in a retail strip center, etc which requires the tenants to pay for three of the expenses (usually taxes, insurance, and common areas)From your additional posts, I see this is in fact an apartment so never mind the NNN.

That seems like a very tricky area to avoid crossing the IRC since I would personally benefit from the insurance if it's paid for my the IRA and seems like a very dark gray area if I am paying for umbrella coverage that is protecting me personally from lawsuits arising from RE in an IRA.

The dealer license has ridiculous requirements ( you have to work for a dealer for 2 years and you have to put up a $20K bond as well have $1M in insurance etc.) but it sounds like the finance license is a lot less?

So, even if you bought it at the asking price without trying to barter, and put 10% down, a 15-yr mortgage on the remaining 38,250 at 8% (a bad rate as I understand; I am purposefully trying to assess this as a 'worst case scenario' to make sure it is profitable even if the loan doesn't come out as well as planned)That means payments are 365.54/month + 149.42 taxes + I have no idea how much for insurance.

I know there is a supposed extra layer of protection but if I have a 2 million dollar insurance policy is that good enough?

No wonder our insurance goes up every year and not down.

Insurance rates for that unit 5.

Unfortunately, all of them also required that the new buyer pay for a seperate insurance policy on the home.

My situation: I have 1 rental property now value approx $60,000 Mortgage payment including taxes/insurance $410.