This includes the seller maintaining property insurance in their name with the buyer added as additional interest and mortgage payments being made from an account in which the seller appears as bank account holder. 

The first mortgage, taxes, insurance, etc on this property have all been paid as agreed during this time.

Most insurance companies are leaving state by state and stopping to offer landlord insurance all together. 

And expect insurance to keep sky rocketing due to all these storms.

My wife are in escrow on our first rental property purchase (in the Columbus, Ohio market) and are underway with inspection, finalizing the loan, getting quotes on homeowners insurance, interviewing property managers, etc.

Make sure your insurance also allows for the AIRBNB. 

example: Car insurance liability coverage is to $300,000. 

I intend to pay all cash, thereby removing the requirement for flood insurance. 

If investing out of state, I recommend building a team you trust including a realtor, property manager, lender, and insurance agent, and maybe even a mentor who has invested in the same area.

If the property doesn't meet the DSCR or the value basedon the market cap rate, your down payment will increase to bring up the DSCR orclose the gap to cap-rate value.Challenges/Lessons Learned: Just becauseyou can buy a property with a CMHC insured loan doesn't mean it is a good deal.We've seen a lot of investors agree to pay too much for the properties, and getshocked with a big down payment and low cashflow due to the low DSCRrequirements.