Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

You would also want to add the LLC entity as an "Additional Insured" party onto the landlord insurance for the property.

It depends on what the property appraises for in 24 months,  if you will be able to get home owner's insurance, if lenders are lending and so on.

File lien if you find assets. (3) File wage and bank garnishment if you have bank account number and current employer. (4) In most cases it is impossible to find current whereabouts of the tenant to serve any papers (garnishment papers)(5) We have started asking for car insurance cards to get information on the car, the only asset most tenants posses.(6) We have not been able to find new address of any of the evicted tenants.

How about the increased home insurance cost for a landlord policy?

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

How do I go about finding those who'd rather just collect the insurance money then sell it off at a discount?  

The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

Insurance companies are always looking for MTR that are furnished like ours  never stays vacant more than a week.