Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

For liability protection, consider umbrella insurance, and ensure your accountant understands rental properties qualify for deductions without LLC ownership.

I’m told taxes and insurance is lot and will rise each year and cash flow is hard to come by.

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

The insurance agency I work with is having trouble finding a company that understands that type of policy and also offers it.  

Home prices are one, cost of living and relatively disaster-free weather keeps insurance costs down.You can look up the median home price for every city or metro area.

I guess it's just too many factors to consider and it easy to get overwhelmed and cannot get accurate info and estimation when I conduct analysis (ex. property tax rate, insurance, maintenance fee, rent, repair, closing cost, etc.) 

I forgot to add that the insurance and tax is included in my mortgage of $2,005.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

I’m talking about getting thorough with expense estimates, factoring in property taxes, insurance, and a cushion for maintenance.