Call the servicing Utility to get an average on the property.Once you get a property under contract you will be digging deeper during the due diligence.Holding costs include (but not limited to) loan payments, insurance, taxes, utilities, HOA fees, etc., that occurs during the Rehab period and up until the property is fully rented.  

I will be making all payments, insurance, upkeep, etc. from there

Umbrella insurance 

I’m an auto-pay, no BS tenant myself. 

No life insurance, minimal workman's comp.

It's possible that they mean that they don't want to carry owner financing, but you should clarify that.Be sure that you buy owner's title insurance too. 

I cant afford to get insurance with this loan. 

I have mentioned this many times before but what do you think would happen to the auto industry if all vehicles had to be paid for in cash like many foreign countries.. that's why there are so few cars in many of those countries.. and what would happen to private aviation where light aircraft enjoy 90% financing for 20 years at 4 to 6% interest and there are tax benefits but they start at 400 k  and light jets that start at 3 million or light turbo props at 2 million.. yet hundreds of these are sold each year .. all because of credit.and just like commercial airliners many are leased and those leasing companies are buy 50 million dollar or 100 million dollar planes with credit not cash then leasing them to the airline.s   bottom line credit freeze's we see what happened. 

The buyer sends escrow payments for taxes, sewer and insurance.  

@Bud Dwyer  You would have notify your insurance company to get it properly insured, who in turn would most likely notify the bank.