Insurance must remain in place in the seller's name during the Lease-Option term, but you should be added as a loss-payee.

And depending on your payment, you might be adding that much of debt reduction each month. 

Some are automatically transferred from your Cash Flow expenses (water/sewage, insurance, property taxes) while others (electricity, HOA fees, etc) need to be added by you within the Rehab worksheet.  

I’ll be adding some serious equity (and cashflow) either way, but the third unit would certainly be the preferred next step. 

The terms also stipulate interest payments of 11% right away and 3 points which can be added to loan. 

When the door was installed they should have laid a bead of caulk to seal it.

Why are you allowing new people to be added to the lease ?

This also doesn't include any summer leases at $500 per person which will be directed to our CAP EX fund.A break down of the estimated first year PL sheetGross Rent:$23,400taxes: $1,560insurance: $590Water/sewer: $2,000Gas: $1,900Electric: $1.500Maintenance: $1,000expense total: $8550NOI: $14,850Debt: $1080x8months= $8,640Cash flow (paying toward HELOC principle) $6210(yes I'm not including Vacancy for this year, I'm also not including Cap Ex this first year either)utility estimates are based on previous averages, and also our first 4 monthsYear twogross income: $26,000taxes $1,560insurance: $590Sewer/Water: $2,000Gas: $1,900Trash(year two electric will be on tenants and we take over trash): $300Repairs/Cap EX fund: $2,500  (summer rents will be added to this)Expenses: $8850NOI: $17,150Refi Debt (125,000 loan @5% estimated): $8040Cashflow: $9110   45% COCOverall this deal is turning out very well, an seems to be an awesome first investment property.

Sorry about that @Jessica ChowIt's on the roadmap and should be added back very soon!

We will be adding more perks in the upcoming months so make sure to check your perks page periodically.I hope this provides as much value as we intend it too!