@Ash Gowda - typically a 1.3-1.35 dscr.  5/7/10 (all dependent upon the lease term and re-ups); Rates fluctuate but for now from low to high 6's fixed.

I have found it is better to use a Broker if possible so they can shop companies, and shop every year vs using a captive agent that can typically only sell their company policies.While it is good to shop, not always good to go with the lowest possible provider on insurance. 

@Elisha JohnstonFrom my experience, San Antonio is a great market for cash flow, with entry-level homes typically ranging from $200K to $250K and steady appreciation around 3-5% annually.

Typical retail lots sold on the market for $55-60k a piece, an off market lot from a wholesaler usually come in around $45k a piece.

We typically do not lock our cars.  

I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area? 

Essentially that's what you described doing, but with the added complexity of the auction process.

But this also typically requires existing relationship before they will start bending their "standard" underwriting rules.

Typically  issues are raised when the exterior is not kept up with / parking on grass / garbage in neighborhoods where everyone takes pretty good care of their homes.If you keep it clean and run a tight ship, you should be okay most of the time.

Collections agencies typically take 30-50% of what they collect. 50-70% of something is better then 100% of nothing IMO.