Commercial loans are generally 20 or 25 years amortization so the minimum payment may be almost as low as a 30 yr conventional mortgage if you factor in mortgage insurance (at least for the first 5 years).

isn't the purpose of insurance to cover accidents/defects?

Hi,Am going thru a due diligence checklist & the above happens to be on list.Will someone plz advise what that document is?

I am putting 25% down at a 3.25% interest rate so my mortgage with HOA of $334, insurance, and property taxes will be about $2640.

Here are the details:$319k (with an ARV of $319k)15 bed / 6 bathGross rent: $9050/monthMortgage: $2799.45 (100% financing at 10%)Total Operating Expense $3849.33/month (Maintenance 17%, Vacancy 7%, tax and insurance included)Monthly Cashflow: $2401.21If you have any thoughts on this property, I'd love to hear them.  

When you do close on a property, right away get an insurance policy that will protect you against most losses.  

@Scott Taylor   E & O = Errors and Omissions  insurance.. virtually every realtor has it.and if you make a monetary claim against a realtor they usually turn it over to the E & O carrier if the claim is sufficient enough.. many of these policies have 5k deductables.Also in most forms and we are going through this right now on a deal I am the seller on in PA were the buyer literally backed out day of closing and wanted their 10k back.. and of course I told them no greaking way.. so we are going to mediation.. and mediation is cheap there only 250 an hour.. the buyer has not appointed an attorney and my Agents will represent me..

There have been no police reports that document or point to illicit activity on the premises...

For that reason, she didn't even have flood insurance.

I'm not sure if you can refi a VA loan though if your not living in it because you would have to sign the VA document again that states you intended to make this your primary residence, which is not true since you have renters in it.