i have also heard discussions about doing your own title search in the first place.. and not getting insurance or having a title company do itthe threshold of whether or not to do it  seems to be the cost of the property...

Investment 60,000Monthly rent 1050.HOA: 300Monthly Tax: 100Monthly Insurance: 20P&I:245Maintenance(10): 105Still 280 Left

Include X percent for repairs, when there's not renters, tax, insurance, etc.  

Auction.com lists a few important docs: Trustee Sale Terms and ConditionsSample Trustee Deed Upon SaleSample Certificate of Sale/ReceiptIRS Form 8300Foreclosure Property InformationTitle Insurance Policy InformationI think the 1st four docs are those I need to fill up, sign up when auction is done.  

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 ????

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?

I pointed out the document I had been sent clearly stating it was refundable.