I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

They were a law firm who hunts class action suits to go against companies. 

The agent has insurance, but clearly, they should not be an agent if they don't disclose this. 

Financing, pm, insurance, downpayment, etc.

You can also write off expenses such as property management, insurance, repairs, etc.

Insurance liability, I personally know 2 families that lost their children in home pools.

With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

If you think you can manage a mortgage, taxes, insurance and the upkeep of a home while paying your student loans then buying is not  bad idea but if you think you will overstretch yourself renting is nto bad either.

Even at that price point, you may struggle to find a tenant, potentially leaving the property vacant for months.Here’s an example of a deal I’m currently working on:Purchase Price: $215,000Rehab Costs: ~$250,000ARV: ~$615,000Potential Rent: $3,600/monthUsing a $615,000 ARV and 75% LTV on the cash out refinance, with taxes and insurance, my monthly payment would be $4,267 using an 8.5% rate.

Liability insurance covers negligence.