If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Weigh the cost and work out a fair deal for you and the PM.   

Did you do business with them and if so how did it work out?

But if you're good at rehabbing and the numbers work out, then you might want to consider it.https://www.biggerpockets.com/renewsblog/brrrr-buyrehabrentrefinancerepeatprimer/Although this sounds philosophical, we live on the hard right edge of history and can see where we are today related to the past.

What time do you wake up?
What do you do first?
Does your morning consist of any of the following?:
Meditation
Exercise
Breakfast
Reading
News

Thanks!

There is already a drop of $70,000 from what we paid and its possible worth but guess that shouldn't factor in as I need to work out whats left to pay and what we have put in primarily.Does anyone know my next move?  

I would certainly take advantage of declaring 2 different properties (or the 200% rule) in your first 45 days incase it doesn't work out. 

@Matthew Allen the key if you plan to hold the property, you need to work out what work it needs and add that to the cost. 

Additionally, a new lease must be signed prior to the lease expiration in order to avoid higher month-to-month rental charges.Please email your decision on whether to renew and I will prepare and email a new lease for you to sign.I hope that you continue your residency with us, but if you do not wish to renew the lease, we can provide a copy of the move-out instructions.Finally, I plan to conduct a routine annual safety and maintenance inspection on XXXX.

I look forward to following this post and hopefully seeing you finding success in a few markets that workout for you.Best of Luck,Adam Scheetz