I have no idea how to properly calculate insurance and tax.

[Ethan Keller]

I have tried analyzing a few properties but either my cashflow is wayyyyyy to high or wayyyyy to low. I just want to make sure I am entering all of the information correctly and the two big question marks are; insurance and taxes. 

[Jeff Copeland]

Insurance: Even on the same property, different insurance carriers (as well as different coverage limits, deductibles, etc) will have very different premiums. Rates can also vary widely from one market to the next.  Your best bet is to get some quotes from insurance agents. After you have done that several times, it becomes much easier to make an educated guess. 

Taxes: This will vary from county to county. Some county property appraisers will have an estimating tool or a formula online (here is an example from Pinellas County Florida). So I suggest checking your county property appraiser/assessor website, and/or calling them to ask for some guidelines. 

Note that it is fairly common for taxes to be prorated based on last year's tax bill at closing, and then for the property to be reassessed (based on the new sale price) after the sale - This often results in a tax increase in year two of ownership, so it's very important to get the tax estimate as accurate as possible underwriting a deal.