I've seen insurance rates of over $500/mo in Florida, for HURRICANE COVERAGE ONLY on a single family home.

Are you just saving up for retirement and you have other extra income to supplement your investments if needed?

What is the extent of the coverage?

Right now I'm just looking to supplement my income and hopefully, eventually replace it with a lucrative buisness.

e) Landscaping / snow removal - $900 - 1KYour operating expenses will be close to 60%, leaving little room for debt service (might not even have the required debt coverage for a lender) and no room for any sort of profit.Unless you are planning to live in one side and use the other as a mortgage helper, I would offer somewhere around 125-130K and start walking away.

We were denied Insurance coverage.

A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

Some examples:- House catches fire --> make sure you have proper insurance coverage- House floods --> make sure you have proper insurance coverage- Realize you don't want to be a landlord --> make sure you have researched property management companies in the area in advance- Decide you want to get rid of the property quickly --> did you purchase at a price such that it wouldn't be too hard to sell?

Any originator of a secondary market loan stands the risk of having to repurchase a bad loan, while they are insured the originator is not totally covered and they may see more of a reserve requirement to cover any loss, the originator may feel more comfortable at 90% where insurance coverage may be increased.

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