Anywhere you have low lying areas close to water you're going to have an added carrying cost for flood insurance (unless 100% equity).  

Income minus $400 for expenses (50% rule) minus $378 (P&I, insurance and taxes) leaves a pitifully small $22 cash flow.

A couple years ago I sold my SIngle family rental and bought a duplex with the proceeds.  

Hello All,Currently I am employed at a insurance company in New York City.I"ve been saving my money for a a year now hoping to get into real estate investing and stocks.

Does anyone have recommendations as far as a GREAT insurance broker in the Charleston area?

In order to fully defer all tax you must purchase at least as much as you sell and use all the proceeds from the sale in the next purchase or purchases.  

The numbers of a average deal they got is:Rent: 925Annual taxes: 847Anual Insurance:  455Property management (via the TK company): 10%The property will be fully rehabbed, however, with the financing provided I am just not able to make any numbers work.

The insurance policy must also list the seller as a payee, just like a bank loan.

It helps to have access to many people with resources of information and my time spent as a finance and insurance broker around the country has done just that so I enjoy a good peppering of questions.

 No - Unless the house needs to be painted and they are painting contractors with insurance.