Not if insurance paid for it.

I've done plenty of deals without and agent, off market not even on the MLS but I'm one of those wholesalers that did things properly, had qualified buyers before even reaching out to sellers and strictly stuck with assignments.Biggest problem is so many "wholesalers" barely have the understand of a deed or what title insurance is so there's an immense amount of knowledge they need before hand which can just be provided to them by getting a license!

Insurance for what?

Well one thing that is interesting in regards to Earnest Money is that you take a place like Ohio, I'd imagine it's the same in Oregon but in Ohio the Division of Real Estate regulates the activities of real estate brokerages and their trust accounts but the Division of Insurance is who regulates title companies.

I think it will also depends on state laws and a lot of information not present but the HOA rules and insurances are two different things.

Using your ratio that leave 13.38% for pm, insurance, maintenance/cap ex.  

Taxes have to be paid, so does insurance, what about maintenance? 

My principal/interest, escrow, and insurance is 1570, and my HOA is 306 and it includes water.

I will insure the property as a non-owner occupant. 

Those can indicate poor management, deferred maintenance, difficult and expensive upkeep like ocean front which will bring up issues with rising oceans, insurance, and hurricanes.