If a lot of work is needed, itemized costs will add up fast, and depending on how well-versed/skilled your GC is, your deal could be killed if something is missed. 

I can't really speak to the insurance, but I'm sure an umbrella policy will cover most items.

If you are buying MLS listed properties with only 20% down, and having to use a property manager for upkeep and leasing then you will likely never find a property that will cash flow. 

Examine off-market purchases; they may have greater possibilities and less competition than MLS listings.

Hey @Eric Williams, great list.

With these items, we may be better to help, also like someone else said a house hack at 95% LTV might be tough depending on rents/PP. 

I think there will be a lot of unrepresented buyers approaching me on my listings now.

As Wayne Brooks said above, anything publicly listed (REOs, HUD, Homepath, etc.) has already been seen by the agents who represent the institutional buyers.If you happen to get one of these under contract for a price below what another investor will pay (unlikely these days), you can definitely still do a double close, assuming there is no resale restriction from the seller.That said, if you have these large institutional investors in your market, you're probably going to want to focus on off-market deals that these guys aren't finding themselves.

Some items of info that will help the agent quoting:1.

@John Underwood Would you just reduce the HUD rent amount by utilities to determine listed rent rate?