Second, the insurance is $1.5k which seems to be low as well. 

Damon That's the rub with low income tenants.

This week supposed to be 15 highs and 0 lows. 

In my state i have no such requirement on security deposits but i question the feasibility of doing this as well as how will anyone know as long as you have the means to pay the tenant their deposit when they move out. most banks charge for low balance accounts.  

That said, if you only have a few "residential" rental buildings, most direct carriers can get you pretty low deductibles on their stand-alone policies (State Farm, Allstate, Farmers, Nationwide, etc.). 

And it's a rather low bar to get over for anyone wanting to continue to wholesale. 

HELOC's are good if maybe you don't have a deal, but want to keep the money ready to use and the property has a low rate that you don't want to lose. 2.

Where trust is low, though, things are slower or more expensive or both.- Understand that you can have never more than 2/3 of the following:  Fast, Good, and Cheap.  

A $60K down payment will get you a $300K property (assuming your income is high enough and debt low enough to qualify for a $240K mortgage).

@Anshuman ThakurThere are some very good advantages to investing in Nevada, low property taxes, no income tax, and landlord friendly.