I google'd around for the USPAP standards after reading why he said it was a duplex, and sure enough it was a duplex according to USPAP standards, sorry agent, sorry seller, and sorry county of Alameda (he was super liberal with market rents on the 2 units that he had to call 1 unit, because it was one GIANT unit, so the rental income was actually fine). 3.

I really want to get a local, first-hand homeowner with some experience to talk me through the complicated flood and wind insurance that is required down here.

If you are keeping it and renting it out you want as close to a standard neutral palette as possible.

I was able to look up the property taxes, calculate my mortgage and insurance and some of the monthly expenses.

I'd like to refinance to a conventional and drop the mortgage insurance.  

Title insurance.

That leaves 60% to cover the actual costs of mortgage, taxes, insurance....oh, and you do want to make money on it right?

AJ Golden IMHO, that depends on what kind of income, "line of credit," insurance deductibles, and risk you can handle.

Some background about me: I have a full time insurance sales job, so I will most likely be using a property manager (unless you suggest otherwise), I've never rented property before, so I have 0 experience being a landlord.

If you aren't already do all the standard personal finance stuff, like maxing out 401k's, backdoor IRA's, HSA's, you should.