At my primary residence my home owners is $1100/year and that covers a much, much higher home value.

I also add a PS for pain and suffering, but some have a higher b.s. threshold than I do.

If you want an FHA or conventional owner-occupier loan, you'll need more than $10k to cover the minimal 3.5-5% deposit for your next $350k primary.While in theory, 2x Equity Lines Of Credit could be approved, remember that Lenders only give out a percentage of the homes' values, so, you may not have $74k of borrowable equity!

Hard money might be an option to supplement, but the deal needs to cash flow enough to cover the debt service. 

If I was in your shoes I would invest in a covered trailer if you are going to be doing lawn and snow work yourself.

if the rent stays as is, its not a good deal because the mortgage isn't even covered. thanks!

I would raise the Vacancy Reserve to 8.34% to cover one month of rental income.You might want to include exactly what you are not sure of. 

The two renters should cover your mortgage + utilities. 

The point is, even if you have auto pay, you still need to pay attention to your bank accounts and make sure there is always money in there to cover any upcoming payments.

My friend just contact the sponsoring broker who proceeded to say she was requiring a $1000 sign on fee to cover many things, I'm aware of MLS fees but is this normals practice?