Wow - FIrst Property in 25 years - looking for advice

[Bernie Huckestein]

After months of attempting to get back into investing I just finished my home inspection of a duplex and have a HUD close date for mid May...whoot! whoot! Some questions I could use of direction on but first the background.

I. HUD purchase of Duplex ...> 2% rule actually 2.35. purchase price 66.7k estimated repair no more than 12k. built as a duplex, rental income $1,900 per month. Really great inspection nearly all systems are new, new roof, HVAC, 2br each unit 2,400 sq feet 2 story

II.  I have financing all set although I should have planned better for this

Have several questions but the following are nagging me right now:

a) Purchase & sale -- have this agreement with HUD but currently my wife and I are on the P&S I should have written this to be purchased by an S corp or llc. I don't think I can change the HUD agreement but wondering about the process to transfer after closing...transfer to and S, llc, or trust for personal protection...any thoughts on how or even if I have the ability to do so?

b) For closing I need to have insurance on the property  -- ideas on a company to use for this?  I have 2 recent claims with the insurance company I use for my home so I don't guess I am going to get a good rate from them.  This company (AAA) did ask me if I wanted Replacement cost policy or one that goes off of the purchase and/or town assessed value?  What are the tips for the best way to cover and control cost?

c) I'd like to keep a detailed accounting of budget and investment for this specific project so that I can know exactly where I am + learn for my next investment, there must me a spreadsheet tool designed to track and manage this which I can update as the closing and repairs happen...appreciate any suggestions

Thank you to all BiggerPockets I have been left at the alter several times over the last months and feel like I am breaking through at last.

Bernie