I’ve heard about the umbrella insurance route, and putting the property under my name.

Make the option rolling with provions for them to maintain, keep insurance, and taxes up to date on house.

But this new property is 1.7m and taking a loan of 1.2m brings the monthly payment (mortgage + insurance + tax) to a whooping 7.7k.

1,125/mo rent = +13,500/yr-1,125 vacancy-1,350 repairs/capex (10%)-7,960 mortgage (110.5k @ 6%)= 3,335/yr remaining for taxes and insurance, or about 2.5%Are your taxes and insurance incredibly low in Savannah or did I miss something on my math?

For future reference you should have estoppel forms filled out by current tenants as well as a clause in the contract that the owner will not make any changes to leases or admit new tenants after the contract is signed.You could check your insurance policy to see if pit bulls is against the policy in which case you could give them notice that it violates your insurance and they have 30 days to cure or move out.

HelloI am looking for a General contractor (licensed and insured) to help us with a flip for a single family in 21209 zip code.

Flood insurance kills cash flow. 

However I believe I’m paying mortgage insurance so my payment is around $1050, can possibly rent it out for 1200-1300 plus utilities.

If you do want to pay down the debt more quickly - and I have done this - then you can set up periodic auto-payments from your bank.

Monthly mortgage is ~$1300 (~$1800 w/ taxes, homeowners insurance, PMI).