When I first bought this place,  was an LP heater in the living area at one time, so the detectors include the CO option. 

Now they said ok to drop 25k and we cover for everything including the hazardous flags.

Was max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties.

@Paul Moore I have subscribed to Wellings Capital emails and have just gotten the introductory welcome with a myriad of free resources including the eCourse on CRE. 

Yes, Insurance is a tax write-off for a rental property.It is also true, that if expenses are higher than your income(not including depreciation) that it may lower your DTI Ratio.

Be careful about assuming new construction wont have maintenance expenses - they often have break in periods of a few years while things get sorted out.Allow about 1 month per year vacancy and include that in opex.Consider what happens if you do not sell in a year or two, to quote mike tyson: everyone has a plan until they get punched in the mouth.

This area is pretty expensive and would like to limit my initial investment under 100k including closing, reno etc.Looking forward to meeting you all!

I come myself, estimate what's need to be done, if I can't fix myself, I tell them that I'll call my contractor and as soon as he's available - I'll give them 24 hour notice.Usually I call my contractors for at least $100 job or they'll include the driving time in any job.To call plumber - just to show up - costs $80-100 depends on a company or who's taking the call.

You want to properly document your basis in the rental property which would include providing the closing statement along with costs incurred prior to purchase such as travel, home inspection and appraisal costs.3.) as an out of state investor, how exactly does filing for taxes work when I reside in California but a landlord in Indiana?

Here's an explanation with a sample at the end:Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called estoppel form or agreement).