Trying to cover my butt in case if a renter trips and falls outside the unit and sues me for all I am worth.

I realize there are better in investments, but we like Wildwood, NJ and would use it for 1 week during the summer and a weekend getaway during the off season.Current pricing appears to be $650-$850K for 3BR/2BA, 1,400 sq. ft. and ~$16K out of pocket costs ($5K yearly taxes, $10K condo fees covering wifi/cable, flood, sewer, trash, etc. and $600 for content insurance).

And fined retroactivally.Additionally, if a tenant has an accident (slips/ falls/etc), or something goes hugely wrong with the dwelling (fire/electrical/etc), your insurance WILL NOT COVER the claim.

I've had some intake calls and 25% seems to be agreeable when compared to competitors.Do you have a minimum that you charge per month to cover fixed costs?

A few days later my banker called with some great news, thay had approved the loan and even upped the original amount to help cover some other expenses.

Quote from @Andy Ramos: It is not illegal, but it is unreasonable.The leasing fee covers all the work associated with moving the old tenant out, supervising the turnover, marketing, screening applicants, getting them under contract, moving them in, etc.

Pic 2 has us paying 5 percent down, in that instance the lender will only cover 3 percent of the closing costs.

Since the interest rates are high and rent's wont cover mortgage , i'm ok with paying money every month with hope equity build up and rates going down in future  .

lately, I’ve been thinking about many different strategies regarding real estate.I originally did wholesaling for a few months but ended up stopping bc it just took up too much of my time especially with my full time job.second, I thought of having rentals but I was hesitant bc I live in NJ & the rental laws here aren’t the greatest and it’s hardly any deals that can justify for the rent to cover the mortage in this expensive market.Right now ive been thinking about possibly flipping properties in my own back yard NJ or possibly out of state where home prices are much lower in certain markets.Anyone have advice if I should possibly flip properties where I live in NJ (blue state) or possibly go into another market and flip virtually..?

Maybe, instead of saving for a house, you save for a job change, whether it will cover your expenses for a few months, while you work a much more flexible job, and look for better additional work, or get training for a job that is more stable.