.: Quote from @Andrew Steffens: Curious what is the purchase price and taxes/insurance/HOA?

Just hire a 3rd party company that takes care of this for you - worth every penny.

Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.

I actually like them because the homeowners' association (HOA) usually covers most of the insurance, and there is very little maintenance required.

I can pay utilities, insurance, and other holding fees but I won't have enough to pay other cost like listed above.

It might have been bound but many insurance companies have put those new policies on hold if the purchase has not happened due to the disaster and letting the mortgagee(lender) know that the policy is on hold.

What kind of insurance do you use? 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

If you care just about positive cash flow (and you don't care about population growth, macroeconomics, or appreciation), definitely go with Cleveland.

- Why didn't the contractor's insurance cover this?