I'm not looking to rehab however minor cosmetic work is ok, but would prefer it to be turnkey ready.I have my finances in place, with an existing property to rent with a signed lease agreement, and could therefore proceed with buying a house with a tenant in place very quickly.If you could be of assistance to me in fulfilling this plan please reply.Thanks!

Medicaid issued AL allows for housing, insurance, guardian and attorney fees if any, and a PNA, and community spousal allocation if applicable.  

Taxes, insurance, vacancy, eviction costs, repairs, maintenance, property management, accounting, etc. 

I had done a couple of deals in Southern California, selling the last one this last September and just had the proceeds from that sale sitting in a Money Market doing squat. 

I've looked into them in the past as they would work well for me with low money down, i heard before that you had to pay monthly loan insurance(think it was around $100) and got nervous about it cutting into my cash flow to much.

Tom Lipps The tittle company will make sure the taxes are cleaned up as they provide the tittle insurance.

My math with your numbers would be more like this:Acquisition:Asking: 290kRepairs: 15k Total Acquisition: 305k Revenue: 28,800Taxes: 4583 
Insurance: 1800 Cap ex: 2400PM @ 10%: 2880 Total: 11,663NOI: 17,137 Cap Rate: 5.6% Cap Rate w/o PM: 6.56% Not a crazy return but pretty normal to see in Miami if you're purchasing in middle to upper class neighborhoods.

As for the LLC - do you recommend what kinda Insurances should I be taking ?

I would like to start flipping so I'm saving to get licensed and insured this way I can bid on bigger jobs.

I HAVE A HARD CHOICE TO MAKE,MOTHER IN LAW 'S HOME IS A REVERSE MORTGAGE HOME,BUT IN FORECLOSURE PROCESS FOR INSURANCE LAPSE AND UNPAID TAXES.