Make sure you ask them good questions, make sure they carry insurance and that they are available year round. 

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

This is how insurance works, imagine if an insurance carrier only had 10 people in it, 1 needs a surgery, POW that's a BIG hit.

Taxes and insurance will be another $400+.

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).

In speaking with our insurance agent, we decided not to make an offer.

There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

It's very cheap and not difficult to maintain bond/license/insurance.

I hope management works, but taxes are flying, insurance is flying, and I just wonder if I made a mistake with this property. anyway, sorry for the rant...

You want this to be your backup plan if things take longer than anticipated, you do not want to dip into personal credit cards so i would use a heloc to help with down payment but try to keep a nice available balance on a heloc as your insurance policy.