Insurance is probably too high.  

We do all renovations , we are fully LIC and insured , in Brevard county ( we are looking to expand )My husband has been in construction for well over ten years and I have been buying and holding for 3 years .

If you convert your home prior and decide to rent or live else where in the interim, then decide to use FHA to qualify for a new primary you can use the rental income with out restrictions of the 100 mile rule and still qualify for FHA.Their (FHA) guidelines are rigid, but with proper planning you can adhere to the guidelines and accomplish your objectives while avoiding the unintended consequences of the rules.Best practice would probably be to wait a few months after moving till utilizing your FHA loan to obtain another property.FHA does have a max of 7 financed properties including the FHA insured property (6 rentals + 1 FHA primary) so it looks like you're riding up to your max with the current of 6 financed properties.

They may give you the information you need to help evaluate if you should proceed.

Lawyer/escrow 2.someone with MLS access3.OF course rehab buyers4.couple wholesalers to expand my network.5. insurence guy /title check up

IE the loan proceeds are in escrow and are collected funds.this is a very very common scheme all over the US.... sucker rates to sucker people into send smaller money and then wa la they are long gone.. and your ticked off that you fell for it.Use a local HML and see what rates they charge ..

Who's been paying property taxes and insurance all these years? 

.$7,850 Gross Monthly Rent$785 Vacancy (10%)$785 Property Management (10%)$1000 Taxes (Current Totals =$675/mo) Anticipating taxes to go up after purchase$1000 Insurance$1028 CapEx$392.50 Maintenance (5%)= $2859.50 NOIWith that NOI, what would you pay for it. 

I'm moved to write this because I've been so grateful for Frank's counsel in two proceedings, I want to appreciate him and give him lots of good clients.

I am developing a new site for my company and I am leaving off everything outside of the known cost which is price, monthly mgmt expense, taxes and insurance.