Everyone's criteria and risk tolerance are different of course.$18,000 equity (20% of $80,000 + $2,000 in closing costs)Annual Income = $11,880 (includes 10% vacancy)Annual expenses ~$8,450 from above.

If you are off by a day, the case will be thrown out and you have to start the process over.You can let the tenant know this is the company policy that you have to follow through with the Summary Process because you do not have rent, nor have they moved out.

We had the same dilemma and chose an umbrella policy on top of rental insurance - read about it here on bp so there are already some good forum discussions about this topic I think.

Lots of bedrooms for any size family, and renters often can't tolerate paying the heating bill for an over-sized house.Sometimes these can be made into rooming houses, if zoning permits (but that is a more hands-on business to be in than whole unit rentals).

I rehabbed, have owned free-and-clear two multifamily buildings: 8 and 5-unit for 3+ years.Essentially zero vacancy and steady rent increase in this popular downtown location.Annual NOI is $140K although I manage them myself.

I just hired a new one last month, and they charge 8% and ZERO for finding a new tenant.

None of the property managers I've used had the $2M requirement, but most wanted to be additional insured on my landlord policy.

My guess is the lender's all have internal policies regarding max. cost of commission they are willing to pay.

His salary 5k+/mnth, her salary zero.

For example my landlord policy covers liablity, lost rent as well as the structure.Section 8 does require inspection prior to moving in.