Tom Lipps The tittle company will make sure the taxes are cleaned up as they provide the tittle insurance.

My math with your numbers would be more like this:Acquisition:Asking: 290kRepairs: 15k Total Acquisition: 305k Revenue: 28,800Taxes: 4583 
Insurance: 1800 Cap ex: 2400PM @ 10%: 2880 Total: 11,663NOI: 17,137 Cap Rate: 5.6% Cap Rate w/o PM: 6.56% Not a crazy return but pretty normal to see in Miami if you're purchasing in middle to upper class neighborhoods.

As for the LLC - do you recommend what kinda Insurances should I be taking ?

I would like to start flipping so I'm saving to get licensed and insured this way I can bid on bigger jobs.

I HAVE A HARD CHOICE TO MAKE,MOTHER IN LAW 'S HOME IS A REVERSE MORTGAGE HOME,BUT IN FORECLOSURE PROCESS FOR INSURANCE LAPSE AND UNPAID TAXES.

The insurance estimates I got was $900 annual premium for each duplex (at $140K replaceing cost).

They still will want inspections, appraisals, surveys, title search and insurance.

If you want to market the certificate, then you market it as a tax certificate and see if anyone wants to buy it.If you got a deed then you need to know if it's insurable or not.

Not to mention upkeep (repairs, taxes, water, insurance) of her personal property (reverse mortgage) and mine.

The owner is 90 and has a few family businesses that are stables in the community and puts all his attention into those and does not really have the interest in dealing with everything that comes with tenants, renovation, and what it would take to bring the property up to market value.