MI is the mortgage insurance lenders require.PMI is set by lenders on a lot of different loan programs. 

That applies to the 'standard' leases in your state as well -- assuming your lease is not a 'standard' lease. 

Being our first property I'm just trying to make sure we don't overlook anything like insurance, utilities, etc.

Also, the representative did not know what it meant to be FDIC insured.

The way I see it, cash flow is insurance to my investment.

Otherwise, FHA allows college graduates to apply immediately upon employment, though there are some more fees associated with FHA and the mortgage insurance is for life.

Have you checked with your insurance agent?

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provides support for the property tax appeals process.

Remember insurance companies will pay for water damage issues.

The home was not insured for replacement cost, but we managed to have it rebuilt with the necessary upgrades.