If a property meets the 1% rule, it typically indicates that it can cover its mortgage and other expenses while still providing positive cash flow.35% Operational Expenses: This rule helps estimate the proportion of rental income that will be consumed by operating expenses, excluding the mortgage.

Great to see you putting the BP calc to work.Did you get an actual quote for insurance or is this an online estimate?

For example, after running comparables, I found that a property's estimated value is $580,000.00, and they have an existing mortgage of $420,000.

It would also be wise to have a reputable roofing contractor who has been in business for several years walk the roof and give you an estimate.

Most COC estimates are $hit.  

The reason being every site and project is unique, and while I do attempt to provide a reasonable estimate of what it will take to complete your project there are many factors outside my control.

What are good strategies or online calculators to help make rehab estimates? 

.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.

(Typically estimate between 2-3% of the loan amount in closing costs: appraisal, credit report, points/origination, underwriting/processing fees, title fees, prepaid taxes and insurance etc)I am sure there are others I am not remembering

Getting a full, locked loan estimate is the only way to truly compare the two.