Obviously, the at least 42 input variables can be adjusted to your own risk tolerance, but this is far easier/quicker than to re-create the entire input.You can find the link on my profile page.

I did a search on the forums and insurance seems like it could be a major problem.I have houses in two different LLC’s in Texas and insurance is not an issue at all.

Best bet is to try local and credit unions, possibly may have some programs for better rates.

million in addition to their investors (who expect a reasonable rate of return) by keeping the rental rates at a fraction of the market rate?

@Heath D WallaceTo get this deal to cash flow, you could look into increasing the rent if the market allows or reducing operating expenses, such as lowering management fees, vacancy rates, or insurance costs.

When entering the apartment, it just feels like a house full of squatters. 

They tend to cash flow really well ;) They cash flow well, but the rate of return is dramatically reduced.Assume a house costs $200,000 and rents for $1,500.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

Your interest rates are low. 8.5% is around the "market rate" for owner finance buyers right now...30-yr, fully-amortizing2.

Start small with strategies like house hacking, leveraging your hands-on skills for value-add properties, and building a strong team or network to reduce risks.