Only “off” thing that happened was an email to our insurance rep asking to be placed as the first and only mortgagee - which I caught and they quickly apologized for and corrected.

Our lender required us to have title insurance and this week my wife will be submitting a claim! 

The two most significant operating costs are property taxes and insurance.

The property owners IN MASS burnt down their properties, which, since they did not file insurance claims was actually the only LEGAL way to free themselves of the continuing negative cash flow of these buildings.  

Is the 15% down with no insurance allowed because it is inferred that the tenants will have renters insurance?

Do you frequently require subcontract and vendor engagement (lawn care, snow removal, building maintenance, management company etc.) and if so, do you sign contracts and require that you are listed  as additional insured on their insurance policies? 

Does the insurance company feel comfortable insuring in that area, does the lender want to lend on this property... and so on. 

In general, make sure you ALWAYS verify stable employment AND income.

I had to figure that out myself as well a couple of years ago haha as already mentioned, first things first, make sure you feel financially stable and secure. 

Increasing your construction budget by a small amount can have an enormous impact on your overall construction budget, productivity and site safety/insurance premiums.