Hi,I am about to become a first time landlord and was hoping someone could shed some light on what type of insurance I should be looking into for renting out a single family home.

Does anyone have any input on estimating taxes, insurance, and water on multi-units in Grand Rapids? 

All three together the rent, insurance and property tax is $2,500 a month.

All three together the rent, insurance and property tax is $2,500 a month.

So Mark do you do a lot with life insurance & infinite banking?

Both insurance and water company has made the mistake.... even to the point where something came up about how parking garage is not allowed in residential neighborhood. 

So my mortgage payment is $1400, HOA $575, insurance  $60, property tax $ 479 and auto loan $276.

We were able to secure this house for 78k, mortgage with taxes and insurance is going to be $432 and will be bringing in $1125 a month. 

I am surprised but people in SF Bay Area are still buying properties over $2M as if they don’t care about $30-$35K of property insurance plus the interest on the debt over $750K.

Abstract fees (abstract of title fees).Charges for installing utility services.Legal fees (including title search and preparationof the sales contract and deed).Recording fees.Surveys.Transfer taxes.Owner's title insurance.Any amounts the seller owes that you agree to pay, such as back taxes or interest,recording or mortgage fees,charges for improvements or repairs,and sales commissions.Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance.3) if there were other costs incurred to acquire the house such as if you spend money for tax advice, tickets to fly to look at the house( or milage)  and such also gets added to the basisGood luck