Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

i used Kevin Hoag, Farmers Insurance for my rentals in Cleveland.   

Not only would you benefit from having a partner's input on the deal, but you would also have an experienced individual to work alongside with as you navigate the project.It's also important to make sure you have identified your "team" ie; contractors / realtors / lenders / insurance agents / title company / etc. 

Most of the loans I do are on 25 to 30 year amortization, and included in that is people calling me b/c their current bank would only do 15 or 20 in cases where they've had the property for 15 or 10 years already.Every time your car insurance is up for renewal, that's an opportunity to make the carrier earn, or re-earn, your business.

The income (rent minus management) should cover the costs (principle, interest, taxes, and insurance) depending on the property's price point. 

Operating Expenses includes taxes, vacancy, utilities, insurance, maintenance, and management fee.

You don't need amenities like short-term and the people looking for MTR has expanded from travel nurses to displaced homeowners, future buyers, just sold sellers, relatives coming into town, insurance companies, etc.

You do potentially get more stable tenants in some far suburbs due to better schools but the rents typically dont proportionately match the higher prices. 

Life insurance might be another untapped source of liquidity to look into (if you have one in place).

These loans are geared towards those with lower credit scores, allowing them to live rent-free and cover mortgage, insurance, taxes, and maintenance costs.