Do you have any projections for what will happen with the insurance market for this year, or is it even possible to project? 

Maybe you can call your insurance agent and they could possibly whip up a letter or something.

Insurance actually yes my other subto just renewed on the 10th.

I’d hope that the inspection fee and markup would cover the costs you are mentioning.He sells all the renters insurance.  

A good rule of thumb is to have 3-6 months of expenses (mortgage, utilities, insurance, etc.) set aside per property for emergencies.

I hope management works, but taxes are flying, insurance is flying, and I just wonder if I made a mistake with this property. anyway, sorry for the rant...

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

The ability to find a good sales price under $200K with low taxes and affordable insurance is getting harder to find but in Oh & IN its still easy.Inventory is strong and the rents are above normal so even though your under $200K you can still earn a good profit.