@Sheeva R. call your insurance agent and ask what they are seeing for the cost to build per sqft.

There are some standards that lenders will go by with reserves, it has to be at least 10% of the budget in most cases and enough to cover an insurance deductible in the event of an emergency. 

What percentage of  tenant income do you figure  is needed  to best  insure monthly payments ?

My offer was accepted, I was lining up contractors and during the close the bank (BOA) offered that if I used their title company (Title 360 Inc), they would pay for my Title insurance (and save me $800). 

don't forget to account for vacancy rates, insurance and maintenance that you'll be responsiible for as owner.

I had send the judgement paper to a collection agency, before I proceed to take the fraud claim action I wanted to see if they are able to recover some of my money, which takes 60-90 days to have an update.I don't want to get my hopes up on this and was preparing for the worse.

@Rod JosephYour post states "Mortgage Expense" is that supposed to mean that monthly debt service is $2,600 or is that Mortgage + Insurance + Cap ex + Management + Repairs?

Recommend getting your ARV determined and your repair costs solid before proceeding 

Below I have compared 2 examples of selling traditionally with a Realtor at 6% commisions (which it may be less as it is negotiable) vs selling with opendoor or similar service.Comparing Opendoor to a Traditional Sale with a Realtor$400,000 Home via OpendoorHome Value: $400,000Sales Price: $375,000Charge 12%: $45,000Commissions 7%: $26,250Total Costs via Opendoor: $71,250Net Proceeds to Owner: $303,750$400,000 Home via a RealtorHome Value: $400,000Sales Price: $400,000Traditional Closing Costs 3%: $12,000Commissions 6%: $24,000Total Costs via a Realtor: $36,000Net Proceeds to Owner: $364,000In this Example Selling with a Realtor will save you $60,250!!!

I'm a licensed and insured general contractor who works on New Orleans houses and commercial spaces.