I bought a couple of lots in a tax-deed auction, and when I went to sell them a year and a half later, I found that all the title companies I called have new policies that require a person to hold the property for 3-5 years or more before the title was regarded as clear.

Hi Courtney, Can you message me the name and number of the person who assisted you with your HELOC?

Syed Naqvi are you applying in your personal name or via an entity such as a LLC?

It is also area specific, depending on crime, vandalism and risk factorsI personally use Zurich Builders Risk Policy on my flips.

I hope you hear from some CA gurus too, out of curiosity, because in my area you would never be able to pull cash from a negative cash flow property.Out of curiosity why do you want to take on the liability of a personal home when renting is less expensive.

I agree with Thomas S. and I personally do not think it's a great/steal deal!

The advantage of adding another tenant is that it is another person financially responsible for rent that you can chase later if needed.  

:)My recommendation is that you choose a name tied to your personal name.

I am a quick learner, politically savvy, and above all, a people person.

Relationships can get tricky if mixing personal and business.