We've had dozens of people on here make wild claims like that and EVERY SINGLE TIME when they posted their expense numbers, they were in the 45% to 50% range.

I have dozens of low income rentals and they are excellent rentals.

After several transfers,  long hold times and having to explain why I dont have an account number a dozen times, they took my name and number down for the service tech to call me back: just want to be armed with info and other people's experiences. 

I was able to look at some tax assessment  docs on the county website which let me know a little more about the property.

Also find out if they have been hit with special assessments.  

The other thing I'd add is you have a better chance of finding a deal, assessing and mitigating risk in a neighborhood you are most familiar with and are in most often ... literally walk around the block where you currently live ...

I found it on MLS and had my inspector assess the house and closed on it in June.  

Many condos have "special assessments" to cover bigger rehabs so they can maintain the appearance of lower cost of ownership.  

I am currently assessing house hacking opportunities that I would finance under an FHA loan with its associated interest rate and minimum down payment.

In other words, if I were to file a claim, then the insurance company would assess the work, see what the repair cost would be, then depreciate the value to come up with the "cash value," and then may me that portion.