I just checked the Zestimate for our old house in Modesto (standard disclaimers about Zestimates apply...) - it's still barely more than half of what we paid for it in 2004, and less than half of what it appraised for in 2006...So, it's very possible to lose money in Northern CA if you buy at the wrong time, like we did.

Asking price..850,000GR.....75,600...No vacancy added 10% for vacancy....75600-7560=68,040Expenses...26,879.15...not showing management....Insurance......Gas 
Took 50% of adjusted gross income 
Which equaled..34,020 The cap rate with the price of 850,000 and NOI of 48,721 = 5.7%.

You could beat that rate with an online FDIC insured high yield savings account.My two cents... take the deal, don't renew the tenants after the lease is up, and sell the house.

I see people saying remember to include your Insurance , are they talking about home insurance or renters insurance ????

I was just using a standard 30 year conventional mortgage to analyze the expenses but would like to find a way to analyze it with hard money.

Per the Mortgage Calc:Purchase price of new home is 400K100k downpaymentat 3.375%30 yearsannual taxes of 2,454.85annual insurance 1,000+/-Monthly mortgage $1614.20 - now for me, that is too big of a bill to cover at this time.  

Does anyone know how I might purchase an insurance policy on this property for fire etc?

Said it's an insurance thing that you could be spending all money on new plumbing and have a problem with sewer line still...House is 60 years old and wasn't much maintenance.Thoughts?

Insurance contacted us about the deceased being the beneficiary still (whoops), so we got a new policy.

Also make sure you get title insurance.