Rookie Ready to Move Forward - Need Input

[Phil Clark]

BP Investors,

I am moving forward but need help in a couple areas and am hoping for your feedback and advice. 

Business is LTR multi family properties, duplexes and triplexes specifically. 

Initial investment funds from a $50,000 HELOC on my home in California to cover down payment. Current rates I am seeing after a cursory search are not thrilling.

First property I am looking for turnkey cash-flow out of market (I am in California and point of entry is VERY high). I need something that does not need anything more than a cosmetic rehab as out of market, new investor, no team in place yet, etc.  

Looking for best deal and not in a specific market. I figure if I like the deal, I am look at the market, and then move forward if everything is kosher. 

When analyzing properties I am using 12% for property management, 5% for Repairs, 3% vacancies, and 3% Cap costs. What do your numbers work out to, and where are your properties?

Insurance - I am woefully ignorant on this topic. What are you paying in your markets for properties as named above? Just need an example to better figure my numbers. I got a random quote on a property I was reviewing and it seemed very high. $5500/year on a duplex in Lubbock, TX?

If there is anything I am missing, or any advice you have for this FNG, I would be grateful to hear it all. 

Getting close.