No offense, but I'll stay in Michigan.  

I do not want to lie to them who I am if they are my potential tenants if I have to hold for a while.On the page it says "IT IS A CRIMINAL OFFENSE TO TRESPASS ON THIS PROPERTY"What should I do?

That said, your GL insurance will really be your front line of defense in case someone wants to go after you for something, with the LLC acting as a barrier between your business and personal assets.

It's evident from your questions that you don't yet understand the process (no offense meant, Maria, just an observation) so don't try to do this on your own without knowing what you are doing, or having someone in your corner who does.

Remember, you also said, you agreed your "starting point would be $259,999", therefore you obviously expected to pay more than that due to a counter, so try not to take such offense to her unwillingness to accept your offer.  

That is a SUPER long leash and your only aksing for trouble.Also - no offense but the problem started with you not doing a proper screening...question is have you learned your lesson or you want to waste more money?

We told the agent that ours would likely be low too because the numbers just don't add up (and I suppose it doesn't help that a broker is involved because that means there's a commission then too - no offense to brokers :-) ).

No offense to a real estate broker, but I'd call the agent I'll buy the insurance from to verify.

I’m new to investing, so no offense to anyone reading, but is it common that even experienced investors can’t see how this can work out simply because of not knowing the BRRRR method?

@John Jaskono offense meant, but I don't think private lending is a good option for someone looking to get started.if you don't have the time to manage a property, just hire a quality property manager.with that said, apologies in advance if you are not a beginner and have RE experience.