You can of course improve this general rule of thumb by:1) putting more money down to lower your monthly payment2) buying down your rate to lower your monthly payment3) get a cheaper insurance quote to lower your monthly payment4) use a different product with a lower rate for a lower monthly payment like a 5/1 ARM FHA5) if you're in a historic district you can apply for property tax exemptions which lower property tax and thereby lower your monthly payment like in Orange, Ca they have a Mills Act which reduces the property tax to about 1/10th of the surrounding properties.

I’m currently looking for a good cost effective home insurance carrier, would anyone have recommendations?

You still have utilities, taxes, insurance, realtor commissions,...

Your cash flow is basically rent minus mortgage P&I, property taxes, insurance, income taxes, local fees, utilities (if you pay any), repairs, management, vacancy, evictions and capex items.

Brokers' poor reputation has caused many brokers to rebrand themselves as “Commercial Real Estate Advisors” or “Real Estate Consultants.”This is similar to the Wealth Management and insurance industries, where commissioned salespeople pretend to be professionals who always keep the client’s best interests in mind.

Vacant Investment Property Insurance

I understand that while my job is stable and I make "decent" money as a single mom, what am I truly working for?

Also, I do not see an expense item for property insurance.

Hi Brian,Assuming this is a life insurance/agency loan, the loan documents should detail any loan assumption fees.

I need paint, flooring, and maybe a roof (depending on if the insurance company will let it fly).