Now, I need from you a contact at a title company and a contact for insurance. 

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

It was all really quick, and the time to complete everything happened a lot faster than I expected (which was a good thing).I was worried at first that I had to use all the partners that Rent to Retirement had, but it was really easy for me to shop around for different lenders with different terms and rates, insurance providers, and property management company.

I know it seems like this older lady has an intent to intimidate me, but hopefully she is just behaving this way because her mind is slipping later in life.

It's near impossible to cash flow when most homes are selling for above $750K, Taxes and Insurance added in the PITI payment is higher than the rents.You can buy a Duplex 2 unit for example in either FL, IN, or OH and not pay more than $200K the rents are typically $1200-$1500 a door.

@Paul Cijunelis  thank you for this response Paul, well I firstly got interested in CRE when one of my high school teachers told me about how he does it and that kind of started my interest, I really love CRE because I've noticed it's a very lucrative and risky business like high risk high reward, but not just that I really love seeing a bunch of properties being brought back to life with renovations.

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.

Clouded titles are often uninsurable from a title insurance perspective. 

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

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.