The insurance side of it is tricky too because you have to also lie on your insurance paperwork.

You will need 6 months worth of the payment (including taxes, insurance, HOA) in liquid assets to show an underwriter.Now with doing a rental agreement, do I need to have tenants living in the home first or new prospects lined up before the underwriting? 

I'm also having issue with no onsite manager, but in regards to insurance. 

So my insurance was paying $6200 a month for "barely" furnished 2-2 apartment new the Arboretum. 

Insurance for 1-4 families is reasonable.

Make sure to provide clear disclosures to the seller about the risks involved, especially regarding the existing mortgage staying in their name.Insurance Considerations – You’ll need to work with an insurance agent who understands sub-to deals, as the lender might require a policy that keeps the seller as the named insured.Due-On-Sale Clause – While banks rarely call loans due, it’s still a possibility.

A real basic guess is 30 houses each cashflowing $1,000/month.In Metro Detroit, this means $1500+ in rent, with the difference convering taxes, insurance, maintenance and vacancy - NO MORTGAGE!

When I first started out, I was insuring everything with USAA.

You’ll need errors and omissions insurance (~$400/yr.), and you’ll have to do some continuing education for licensing compliance, then you might have some technology costs and some other costs I’m forgetting, of course vehicle maintenance and insurance and those types of things.

Nevada #1 in Car Ownership CostsNevadans pay the highest car costs in the U.S. at $6,120 per year, with insurance alone at $3,439.