Hi Hazel, I work with a lot of investor clients from OOS and have carefully vetted general contractors that are licensed, bonded, and insured and do great quality of work.

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month. 

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.

But of course Like I said you pay somewhat of a premium over the cheapest hard money out there that reguires down payment  paying their points and fees UPFRONT making monthly payments paying for insurance..

I help investors optimize their financial strategy by implementing the Infinite Banking Concept (IBC), finding the best insurance for their properties and cars, and connecting them with legal experts for living trust creation.

But because it is built before 1960 banks do not insure it as it is(not renovated) for earthquake so they do not grant me a loan even though my payslip is quite good 

Insurance for 1-4 families is reasonable.

Those policies that weren’t forced on the plan of last resort, the state run California ‘Fair’ Plan are significantly underinsured.

Generally - the depreciation on the structure, mortgage interest, property taxes, repairs & maintenance, insurance, property manager, utilities, vehicle expenses (mileage), professional fees (reports/CPA), home office (office supplies, percentage of utilities, continuing education).

Assessments, in the "condo world" cover items not insured.