Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Also, keep in mind if it causes an undue burden on you or is too costly you can deny them. for example, if your insurance company says that dog breed is on the ban list then you need to find out how much it will cost to insure them. if the rates go up because of the dog then you can deny them based on the undue burden. 

A good manager will handle everything from marketing to maintenance and tenant screening, saving you time and stress.Vendors and LandscapingBuilding a team of dependable vendors—like landscaping companies, contractors, and insurance agents—is critical.

And you know who sells SubTo insurance?

Lenders want to see two years of stable income before they loan money to you.

You are looking at the rent of $2,000 and mortgage (Loan, Insurance, and Taxes) of $18000 and thinking you have $200 cash-flow.

Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

You mentioned gross rents of $3400 per month and Principle/Interest/Tax/Insurance of $2500 per month.