If the agent is good he/she will know which markets to look at and shop for you to find the best rates/coverage. 

However, I prefer to calculator myself in excelCap rateCash on Cash ReturnBreak even Point (time and dollars)Net Operating IncomeIRV formulaDebt Coverage RatioInternal Rate of ReturnReturn on equity

Does the 50% rule include only operating expense, or does it also include debt coverage and taxes as well?

We have put the deposit down and want to make sure we get coverage on the house to protect our interest. 

For me, more important than the cash on cash return is the debt coverage.

If you are purchasing in your name, you should be covered by your homeowner's or renter's policy which typically include liability coverage.

@Dan Goodwin if your LLC will only be working on properties you own, not much of a need to buy a separate business policy for the LLC.If your LLC will be doing work/management for others, then you need to looking into additional insurance coverage.

We dont have coverage everywhere but I can point you in the right direction if we dont!

I deal with more protection for my business since I'm a contractor but this seems a bit overkill.Carrier: ScottsdaleSix-Month Premium: $1179.5625% minimum earned premiumCoverages & Limits:Commercial Property: $125,000 Building Limit – Special Form excluding theft; $2,500 deductible; Replacement Cost Coverage; 80% CoinsuranceCommercial General Liability:$1,000,000 each occurrence; $2,000,000 aggregate limitProducts-Completed Operations Excluded; Designated Premises/Project Limitation included.Conditions: All subs must carry equal or greater limits of liability naming insured as Additional Insured, hold harmless contract in favor of insured, with Certificates of Insurance.Thank you in advance for your consideration.

Will give a call for your insurance company and compare the coverage and cost.