On property number one, I would cash flow $750 a month after mortgage, taxes, and insurance if I also rent out the unit I live in.

We have had brief discussion regarding general Q&A information, and proceeded to provide an ARV price range that would be very attractive to me. 

You will probably win when she doesn't show up, and while you will have a hard time getting the proceeds of the judgement, you can mess up a credit score pretty well with an unclaimed judgement.

It also negates the need for insurance - although that isn't our MO. 

His reason was the only thing he knew to do with the proceeds was to loan it back out at 12%, and he would be "behind" where he is now in cashflow.His proceeds would have given him options up to and including PE, but he is a simple man and in his case holding was the option for now. 

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

Quote from @Mike Donovan: Found this thread as I am researching Landlord insurance as it relates to student housing.  

The two-count indictment charges them with conspiracy to commit wire fraud affecting a financial institution and conspiracy to submit false statements to a federally insured financial institution.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

These typically include services like renters insurance, HVAC filter delivery, pest control, and sometimes utility management.