Private mortgage insurance i believe is not charged on va loans.  

I’m told taxes and insurance is lot and will rise each year and cash flow is hard to come by.

. - some strategies I've seen California investors use to lessen negative cash flow: house hacking, mid-term rentals (people temporarily displaced from home renovation or insurance reasons like fire), rent by the room, Short Term Rentals. - The ultimate house hack, live in the small ADU unit and rent out the two levels of the main house on AirBnb in San Francisco (I would have thought STRs are oversaturated in S.F. but it worked for them and they stay fully booked).

Rhino is an insurance program, and I do not recommend them.

You should also check to ensure they have Errors & Omissions insurance, Fidelity Bond coverage, and a Financial Institution Blanket Bond.Some are more consultative and advisory and provide guidance, while others are just processors. 

Condo mortgage is $2100/month (with insurance, HOA fee) and the rent would probably be $2200/month.

.: You don't need insurance or a deposit.

That is just the loan payment and doesn't include your insurance and taxes like a typical mortgage payment does. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Insurance is expensive, there is a lot of extra maintenance like painting or electric in common areas that don't apply as much with smaller units.