The rents pretty much never seem to cover the mortgage costs, even with low interest rates.

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

They cover west wood and other west side areas but there are certain places they said they would not cover such as college hill.

A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

I use airbnb and rent out rooms to cover most of my mortgage.

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

Need a few units in same buildings and higher rents to cover expenses aka nice areas. 

I have started looking for another insurance quote, hard to find one that covers multi family.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.