You’re in a solid position with this property, and it’s smart to weigh your options carefully.

Quote from @Tim Delaney: Quote from @Nilusha Jayasinghe: Quote from @Tim Delaney: It sounds like you would be in a good position to invest some or all of the RE emergency fund in a “safer” index fund.

You can still easily find the 1% rule and positive cash flow and there's amazing appreciation potential.

I'm going to get with the sales rep and look into this further to see if there's any other option available or if we can make a referral to a local agent in your area that might be better positioned to assist.

Given that I'm not positioned to buy just yet, and simply running the numbers, is there a rule of thumb for estimating insurance costs that would make sense in Cook County?

Left me feeling like a basically have a retail/fulfillment person on my team so I'm a big fan and would recommend giving them a shot, especially if you're in a similar position as I was: Needing to furnish an STR quickly and cost-efficiently. 

They maynot want to do this if they are using a Bank to finance, since thebank will want “First” lien position and you won’t want to do“Second” position.

The investor who bought this home owns an asset that is cash flow positive from day one and one that will benefit from all 5 profit centers of rental property investing for many years to come.

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.

How many tenants will you lose not because they didn't like the property but they didn't like your tenant selection.Remember my first point FLEXIBILITY, well if you decide to bail on the rent by the room, it is more unlikely that you can cashflow positive with a SFH than a duplex in Austin TX if you move out of the property.