In theory it works but there is a single point of failure with not being boots on the ground.

I decided to go with this insurance company after comparing it with other companies. 

~ Scott Choppin not sure if you mentioned but some times getting off the ground on a condo project can be tough at those price points when lenders want a certain % of the units sold before they will do govmit backed loans.. ???? 

How do your earnings compare to a long-term rental where the tenant pays for utilities and landscaping?

I will be educating myself as much as possible over the next year before I start working so I can hit the ground running when I have acquired enough knowledge and some capital.  

Has anyone ever taken outa loan just to get their real estate investing business off of the ground?

Adding a couple of those could be cheap compare to an extra month of carrying costs.

Things like Knob & Tube or Aluminum wiring, in ground tanks, tenants with certain breeds of dogs, proximity to a coast, etc. are all factors that could limit the companies that will insure you or raise the cost.Feel free to PM me if you need more info on any of this. 

Therefor you can find great cash-flow for less capital and lower competition from owner-occupants/flippers.Lesson to be learned is getting feet on the ground in those neighborhoods to understand the differences in product type and highest/best use.

FHA appraisals are a bit more stringent compared to a conventional loan appraisal.