This property needed an extreme amount of clean up and haul away of items left behind.

Garbage disposals are my most often replaced items. 

The Detailed Engineering Cost Estimate Approach is typically used for the purchase of used property.SURVEY OR LETTER APPROACHOnce a site inspection has been completed and all components of a property have been determined, your specialist will send a survey or letter to the contractors or subcontractors to request they provide the cost of each of the items.

I look at every single item in the pro forma and imagine that it is complete BS, and see if I can challenge it.

Go through each major line item and come to an agreement on what really needs to be done.

If, however, there are any gaps at all in any of the above items, even a gap so small a mouse can squeeze through, that tenant will exploit it and your life just became a 7th Level of Dante's Inferno.....:)

But, on the other hand, if your life is very busy with your w2 job or you have a family to take care of, then maybe having a property management company will do you well and just worrying about larger items.

Certain cap items is fixed or pretty close to fixed whether you are buying a $60K house vs. a $500K house in the same market. 

These are just some of the additional items that will have a significant impact on carrier's rates, your premiums, and whether we start to see the insurance market soften anytime soon or not.

Focus on the big-ticket items and estimate costs.Financing: Whether it's private money, hard money loans, or a traditional lender, make sure your financing is lined up.