Deal with local real estate brokers who has insurance covering property management.

Since you didn't mention, I'll remind that you have to be a licensed real estate broker to do it and have an insurance, which is more complicated than your regular E&O insurance.This is a tough business and if you're doing just your properties, like 10-15, I'd really first thought it through before starting managing others in big volumes.

It will not insure they will pay rent and you will likely be forced to evict rather than non renew a M2M lease.Keep in mind a term lease has no bearing on when tenants decide to move.

I did extremely conservative estimates as if I would have to replace all plumbing, HVAC, electrical, etc.   

It is 1550 sqft, the mortgage is 810, taxes 330, insurance 55, no PMI.

Had he simply paid me the 95K he owed me my company and my insurance would have taken good care of him.

plumbing?

What about property insurance?

After all costs (tax, assoc dues, insurance) we have a positive cash flow of $940.00/mnth. 

However, you must have a relationship with that Non-profit.Flipping Property: Have a friend or a person in line firsts that is looking to buy investment property.This could be your insurance agent, the neighbor up the street that own investment property.