See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

They quoted an umbrella policy for $200 extra, which is very reasonable.From my limited understanding of insurance policies, if I have the second-home policy with home sharing endorsement (personal liability $1M) plus an umbrella for $2M, then I should have about the same coverage I get from Proper, even in the unlikely event of an off-premise liability lawsuit. 

For the moment let's leave out what I paid for the land, because it will vary and in any event it is easy to subtract that amount at the end. 

Make sure you come to the Space City REI Meetup this month on Septermber 25th to meet some fellow BP members here in Houston - At The Cannon Event Room near Bunker Hill!

Unfortunately most investors focus their time and resources on preparing for the liability event rather than proactively operating their businesses in a manner that prevents the liability event from occurring.

In the event of a sale, are you able to subtract realtor fees and other sale fees from the net gain of the sale?

According to Airbnb's Major Disruptive Events Policy, you should be able to cancel without any fees to you or the guest. 

I have a great W-2 not in the industry, but became an agent to be more educated/empowered and save the 3% fees.

There is a lot to learn, and to be frank, the knowledge you're seeking will be 40% of the industry.

Welcome @Rebecca Morris,These are the 10 first steps I would recommend to get started in REI (real estate investing):1) Educate Yourself: Read books, take online courses, and attend seminars about real estate basics, market trends, and investment strategies.2) Set Clear Goals: Define what you want to achieve in real estate—whether it’s buying a home, investing in rental properties, or flipping houses.3) Choose Your Niche: Decide if you want to focus on residential, commercial, or industrial real estate, or perhaps a mix of these.4) Research the Market: Analyze your local real estate market.