Becoming an agent has costs to operate Day 1 which includes: additional car insurance (required to drive people around), licensing fees, dues (state and national), fees to operate a Supra key, to be on MARIS (MLS), prepaid legal fees, etc.

Hey guys, my name is Blake Catanzano and I live / invest in Oklahoma City.  I've been browsing the forums for months and am now ready to get myself involved with this awesome community! I wanted to share with you guys...

And talk about predatory, points on my sale price, not good.As to originations, there are many RMLOs out there who think they are compliant in doing seller financing, actually not from several fronts, their employer/broker must have such loans in their charter, insured and bonded lenders aren't covered with equity funded notes, and if they do any volume they may have loan concentration issues of high cost mortgages, this goes much deeper than what our newish loan originator testing goes to that they learn and it doesn't even go into underwriting!  

Yes, as far as a PM, you are pretty safe figuring 10%, but a few phone calls to different ones in the area will give you that answer. and Jeff Beard brought up a good point as well, you will have to figure in the taxes and comp insurance for your employee.

I've been getting some quotes for insurance and the premiums are very high.Quote 1 - Vacant Dwelling Policy from Evanston Insurance Company. $1200 for 3 month term                $160K Property Value (incl. improvements), $300K LimitQuote 2 - Builders Renovation Policy from Lloyd's of London. $917 for 3 month term                $80K - Property, $300K Liability, $1K deductibleBoth seem very high and I can't even use quote 2 because I am not using a licensed GC.

Then add ALL costs related to holding the property (utility costs, insurance premiums, property taxes, loan payments, etc.).Concessions: Concessions are what you give back to the buyer at closing.

What insurance should i take 3.

If not will you have any positive cash flow after taking out all your expenses including insurance, taxes, etc?  

Is insurance really that low in Memphis($450)?

I am guessing yes cause you want to use it occasionally, so much more energy spent in managing lots of turnover.Whats the insurance like?