Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.

There are still some docs required (ID, bank statements, copies of leases, copy of insurance, etc.), but it's WAY less document intensive than a conventional loan. 

.: Quote from @Andrew Steffens: Curious what is the purchase price and taxes/insurance/HOA?

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

If your insurance coverage isn't enough, they could seize the LLC assets but not your personal assets.Additional thoughts:1.

You'll want to ask about their experience, read reviews, understand their availability, pricing, insurance / bonding, and how they safeguard their funds. 

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

Hey BP,I know this question has been asked often, but I've been struggling trying to find an investor-friendly insurance company.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

What kind of insurance do you carry?