Rent is at 2300 with Mortgage, taxes and insurance at 1700.

We have a speaker every month focusing on all different topics: rehabbing a property, leasing, inspections, taxes, insurance…. you name it.

If you have a stable job I would do that to build funds.

The taxes and insurance have tripled on this property and it is no longer viable.

We also have preferred venders set up to help with lending, Insurance, as stated property management, and we are boots on the ground.Most of the investors that I work with buy f 4 or more properties through us .  

Anyway, after appraisal we were able to insured the property with Universal company, I recently got a letter that my policy was going to be cancelled due to the condition of the roof.

I've had many single family insurance claims and never had this issue.Was the agent you are using quoting the same insurance carrier? 

In the handful of cases that I'm aware of, the lenders found out when changes were made to the insurance policies for the properties (the lenders will get notifications by letter of any changes to insurance policies where they have an interest).

Other costs like closing costs, insurance, property taxes, and maintenance/repairs should also be considered.Good luck!

There are things I didn't mention such as process of buying land, negotiating the lease, insurance.