I agree with Marv that the way you approach sellers (from the marketing through the close), will dictate the way the sellers respond to you.In addition to Joe McCall, I also like Joe Crump & Adam King's approaches.Now go make some money,Jay von Mohr

It may well give them the right to dictate minimum insurance requirements.

That should dictate what you're doing here.

His answer will dictate whether your next call will be to the title company.

This is likely your highest valuation, but it needs to be positioned appropriately for sale, and a good listing agent will be useful.It is alternatively a straight investment property that would probably sell at a 9-11% cap in a "nicer" area as you describe this, but your local market will dictate this number, there is wild variability from market to market.

I explain to my tenants what I am doing, and that I have to do it because it's what our agreement and the law dictates.

Your state law may also dictate what happens after the lease expiration period.

Your budget will dictate the types and amount of marketing you will do.

Again, just my opinion, but I would never let the seller dictate terms of how you run your business.

Income goes into the checking account and all bills for the rentals get paid out of that account.Some states have specific laws that may dictate exactly how you handle security deposits.