Also best type of insurance.

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow. 

D.FCheck with your insurer, and adjust accordingly.

Also, at this time I had seen properties selling for 10 – 20% over ask regularly.Interest Rate 30 year conventional 7%Homeowners Insurance = $1,000 annuallyRents = $1,800 per monthWhen I looked at those assumptions, I would need to put down $80,000 on this house to get it to hit my cashflow goal of $500 minimum per month which equates to 35% down.Total mortgage + escrow = $1,267.13 per month with rents at $1,800 my monthly cashflow is $532.87.From my experience, after taking out vacancy and maintenance costs you are left with around 73% of that total cashflow number once the rental is established.People have asked why a $500 per month cashflow goal.

You don't want to get stuck with negative cash-flow because you can't find another care facility tenant to rent it.Also, probably want to check with your insurance provider and see if all those tenants who are likely to fall and break a hip are going to be an issue for them, and look into the legality of what happens in the care facility owner dies and you're stuck with 5-8 tenants in the home with no one to care for them and no living descendants.

Quote from @Jamie Lynge: I am a Medicare insurance agent living in NW Arkansas.

What about maintenance, taxes, insurance, or setting aside funds for capex?

Cash Reserves & Emergency Fund✅ Have 3-6 months’ worth of expenses (mortgage, insurance, taxes, and maintenance) saved.✅ Keep an emergency fund for unexpected repairs and vacancies.2.

Quote from @Frank Ritzert: Ron LeGrand recently spoke at a Jacksonville REIA meeting in January 2025 after Cameron Gaskill backed out last minute due to health issues.

Other possible issues I may encounter with the address is with my home insurance, car insurance, and if the FHA does a check to see if I'm residing at the property.