Who is paying closing costs / title insurance? 

Let's say you have $100000 available and you buy ONE investment property that cash flows $1000 after taxes insurance and management.

Water/Gas is on 1 meter and don't think plumbed correctly to sub meter.Rehab-Have put around $15,000 of my own money into rehabbing the property. 

I suggest you look at local tax rate, insurance carefully, utilities are low if you have to foot the bill. 

Cost is 285k im not sure what the closing cost will be im estimating the followingPurchase price 285kClosing cost 6kRehab [email protected]% conventional Down payment 5% 15kI dont know what rent for the area but i look and see maybe $1400 each unit Im doing $80 for water per month$125 insurance month$200 repairs per month$300 taxes per month$1487 Mortgage $700 plus Cash flow Am i missing anything ?

$1,200 insurance?

It's tough to do a complete upgrade to an occupied unit so in this case you do the easier stuff like plumbing & lighting fixtures and appliances, window blinds, countertop resurfacing, pretty much everything but flooring and paint which can be too disruptive. 

This could lead to a future event that optionee comes up and buy my property at a stipulated price.Currently, I have heard a few things:- Title company: they say there have been a few transactions after this Option, there should be no issue, but this is not covered by insurance- an unpaid legal advice from a local lawyer: this is a defected title, should cancel the purchase- Realtor: we will try to remove this, but this is not an important issue- Realtor friends: No.

I see I made a major deficiency in purchasing my current property with the age of the key items, e.g. gas furnaces, water heaters, washer/dryers, refrigerators, stoves, plumbing, electrical, etc.

Is the insurance price correct?