I recently watched a BiggerPockets podcast on YouTube where both folks made flood insurance mistakes from not noticing something in the disclosure.

Invest in a security camera—we had a break-in where someone lived in the house for days and stole appliances, which insurance didn’t cover.

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

I use Auto Owners Insurance.

As others have stated, it's tough to lose the various benefits (health insurance, 401k employer match, etc), not to mention the income itself. 

Beware with manufactured homes, as getting lending as well as insurance is tricky!

Your current insurance provider should offer it.

I do not have a lender right now, and I will need the 12-month rent history as well as various metrics on the property such as insurance quote (which needs property information in order to obtain), existing debt, and purchase price (which would be established while making offers).

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Keep in mind that many of these cheap homes are selling for less than a third of their insurance replacement value, which really means that the land has negative value - let that sink in.Most buyers who can actually qualify for a mortgage will get a PA for $200-300k and desperately want to upgrade their life.