But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

@Mike Terry Yes, it is conservative, but that's because it's the operating expense margin that most of the banks I work with for my clients use in their underwriting.

I have had a couple of clients just get the loan approved with the long term rates and then the bank really doesn't care how they get it rented out after.

While very lucrative - if you don't have enough reserves, it can really break the bank. 

This is a FREE service provided by the bank, and we have used this account for about 15 years or so. 

I would love to hear a story of someone where they explain how insurance has helped them with their property.I am getting into out of state real estate investing this month and am curious to hear other perspectives.  

.- If you decide to have an LLC for each property, creating a Management LLC that all the other LLCs "hire" to run their books, will allow you to only require a bank accont for the Management LLC.2) You may not be able to do a Trust.

I wouldn't bank on selling within 2 years.

Does she or I call the bank to see if it's possible to transfer?

Don't apologize, don't explain how the 'chosen' tenant was more qualified than they were, wish them well in their search.You're running a business and you've made a business decision.