Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Assuming you sold the home at the end of 5 yearsYour NET ROI would be:0% appreciation: 10.93%1% appreciation: 12.13%2% appreciation: 13.33%3% appreciation: 14.53%This ROI calculation takes into account taxes, insurance, selling costs, repairs (calculated at $3500) through out the lease.

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

I would suggest you do some soul searching before you make and decisions to sell.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

.- still did not receive the check from the NJ Victims of Crimes office.At this point, I want to file for eviction at the end of the month if she delays the event by 1 day to pay her entire rent ( January and February).My question to you professional is, should I inform her of that decision in advance?

I have recently switched my insurance from home owners to landlord policy.

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

There are still some docs required (ID, bank statements, copies of leases, copy of insurance, etc.), but it's WAY less document intensive than a conventional loan. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).