.• Cash Flow: My goal is to keep total expenses at $600/month or less (including mortgage, taxes, insurance, and property management).• Minimizing Debt: I want to avoid overleveraging and maximize cash flow from the start.• Property Management: Since I’m investing out of state, I’ll be hiring a property manager to handle day-to-day operations. 

To further complicate the matter, many insurance companies use wide blanket statements in the policy, so they have wiggle room to argue in court instead of telling people what exactly they insure or don’t insure.The roof is at the mercy of mother nature, which hasn’t been very merciful to Jacksonville in recent years.

Before you think you're getting in for zero down, have you asked what kind of cash reserves you have to have to qualify for the loan such as X number of months rent, and X number of months taxes, and what about insurance are they going to require you to buy one years of insurance or something.

Buy a simple umbrella policy.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

I know that RTR positions themselves as “turnkey” but the reality is that they are more of a hybrid model - they set you up with everything you need and facilitate relationships with lenders, insurance, property managers, and so forth - but they are not the actual service providers.

This also begins YOUR title seasoning, so that when you're ready to take out a traditional mortgage, you can refinance and pay off the seller without a title seasoning issue. you can buy title insurance from the title company at closing. this is a good idea. 

Defending, These fall into a couple of groups, both nasty Eventually you will either face a Due on Sale clause, a seller bankruptcy, a court order in a divorce that affects the property or a fire insurance claim, a slip & fall, very bad tenant, storm damage, and the list goes on.

Right now we're inquiring with our insurance provider to validate proper coverage, checking with our rental license if it covers uses like this, and working through what a lease would look like. 

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.