There are others in the forums that can comment on the market, I know property got significantly more expensive during covid and not sure if its moved from its peak.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

The more you spend up front on renovation will help you to reduce your expenses later. 

It is located in a desirable area (Pembroke Pines, Fl), that averages rents from $2990-to $3600 depending on amenities.

Seems like expensive insurance to me, and if the tenant is already planning to re-up, then it's definitely not worth the premium.

House values in the area have increased about 5% the past year and the Greenville area and surrounding areas are rapidly growing.The monthly expenses (including utilities and 5% for repairs and 5% maintenance) come out to $2,291.

I’m confident I’ll prevail without any major added expenses but just a fun way to jump right into real estate 

If I pay  his water bill how do I expense that in my tax returns.

It's important to utilize an insurance broker who points you in the direction of quality carriers not just the least expensive.

So here are some facts;We own two stilt houses (4bed/4 bath) in ocean lakes.wr average between 135-160k in the two combined.The amenities are ALL allowed to be used by any guest(s) that stays in our homes.Ocean lakes is a resort and campground - it is secure in it's ability to keep its str usage and zoning due to same.you dont own the land.