D.FCheck with your insurer, and adjust accordingly.

@Eva Salas, I don't understand why you would put your property manager on your insurance policy as an additional insured.

It seems a lot of folks are insuring a property in their personal name that they do not own, even adding the LLC that does own as additional insured does still not make it right.

It would cost us $42,500 for downpayment and loan costs (+ home insurance/property taxes) upfront. 

That only leaves you $1,400 and doesn't account for taxes, insurance, maintenance, vacancy, or any other expenses.If you kept your original loan of $220 at 4.25% interest, your monthly payment would be $1100, and the $125 rehab at 8.5% would be $961 for a total of $2,060 per month. 

Investors who hesitate often miss out.3.Contractors Matter – The wrong team can wreck a flip.

Insurance Proceeds and Taxability: The insurance payout you receive is not "free money."

My name is Joseph Irizarry, and I am a licensed Master Electrical Contractor and Home Improvement contractor.

I am an active real estate broker and general contractor here in Memphis and this is a great market for RE investing!

The real estate agent I was assigned passed me off to someone else without explanation, and the general contractor stopped communicating with me once I had my first deal under contract.