That includes (but not limited to) Mortgage payments, Taxes, Insurance, Utilities, HOA fees, etc. that occur during the Rehab phase and up until the property is fully rented.3. 

Adding in guesses for annual tax/insurance at 5k a piece and a 4% interest rate, the total monthly payment comes to around $2,450. 

I stepped away from my real estate goals years ago when my son was killed in an auto accident, and suffice to say that recently I made the decision to get back in the game doing what I love. 

I work pretty closely with an insurance group now, but I would still be happy to connect to see how we can benefit each other down the road!

As an extreme example to prove my point, lets say you borrow $1 million on a property producing $10,000 in monthly gross rent with the following terms:conventional  residential- 4.5% for 30 years: monthly payment = $5067commercial 6.5% for 15 years: monthly payment = $8,711Keep in mind, this property, even in a modestly expensive state has taxes of 10% and insurance at 5%.

Once you factor in taxes of $475/mo and insurance at $115/mo, your total monthly payments will be $1610 and that's before the other expenses that you mentioned.

I am looking for recommendations for an insurance agent in the Independence, Mo. area that is familiar with buy and hold investing.  

I believe there is an online registry of sink hole homes, at least those with insurance claims.  

And, as much as HOA's can be a pain, they do keep an eye on things so if your tenants are doing something they shouldn't be you will likely find out about it, where in a SFR you may never find out.In general a lot of people don't like HOA's or CC&R's (I get it), or the possibility of unplanned special assessments (I get that too), but a certain percentage of the HOA dues you would have to pay in a SFR anyway (landscaping, painting, repairs and maintenance, insurance for the outside, pool/spa, gates, etc). 

Should I take the insurance before closing right?