Is insurance really that low in Memphis($450)?

I am guessing yes cause you want to use it occasionally, so much more energy spent in managing lots of turnover.Whats the insurance like?

Talk to your insurance provider before deciding whether you want to adopt a policy of accepting dogs.  

The mortgage has a small balance of $22,000 with a $232 of monthly payments which includes principal, property tax, and fire/water insurance.

What are some good property insurance online comparison tools?

I feel like I've heard that after a certain period of time you can convert it to a rental and buy a new FHA insured property. 3 yrs maybe??

So if income for a property is 2000/month, they count 1500 minus mortgage, tax and insurance.

What would your standard house insurance be for a 100k house in either markets?

The real advantage of Class A properties is they are likely to hold their value and continue to appreciate, be easier to rent if not priced too high and draw a more financially stable applicant.

These low down payments will still have mortgage insurance.