In both cases I settled with the homeowner to avoid aggravation, lost time, and expensive lawyers.

Originally posted by @Travis Lemley:They will most likely vary significantly with flips being more expensive. 

Each duplex was bought with an average purchase price of around $270K and is getting an average of $1350 a month in rent

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

Proper has the most comprehensive coverage, but it is usually the most expensive. 

Next, you need to start tracking your expenses.

I'm not sure I would want to be in a blind pool fund at seemingly a late inning stage at this point in the cycleFinally, if you're an average Joe wanting exposure to this sector I would strongly suggest taking a look at the public REITs as an alternative. 

They just put a new roof on, so that's one large expense I can budget less for early on.

It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.

Big expense up front, additional expenses over the life of the lock, they can be too complicated for renters to figure out, and they don't solve all the problems a landlord may face.