Talk to your insurance provider before deciding whether you want to adopt a policy of accepting dogs.  

The mortgage has a small balance of $22,000 with a $232 of monthly payments which includes principal, property tax, and fire/water insurance.

LA City requires an escrow for every tenant relo including separate escrow instructions and proof of deposit of the required relo funds to proceed.

What are some good property insurance online comparison tools?

I feel like I've heard that after a certain period of time you can convert it to a rental and buy a new FHA insured property. 3 yrs maybe??

So if income for a property is 2000/month, they count 1500 minus mortgage, tax and insurance.

Office buildings...Would it be good for fast food or bank where you could land lease them the property and they would develop it and your colleague would just sit back and collect check.As you can see there are a bunch of scenarios you can throw out there but it all starts with the zoning of the property and what is allowed under current zoning laws unless you wanted to go through a zoning variance proceeding.

What would your standard house insurance be for a 100k house in either markets?

These low down payments will still have mortgage insurance.

Payments currently are 2500 a month  for mortgage taxes and insurance and the place brings in 3000.