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).

If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

You protect your assets by buying a landlord insurance policy, which comes with dwelling plus liability coverage. 

You payment is $2,600 plus tax and insurance.

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

., realtor fees) and documented remodel expenses ($50K).

Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost. 

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

We also recently got notice from our home Insurance that they are cancelling our policy because of exposed wires discovered by their inspector.