ok so NO I DO NOT think you should consider buying this home.... first of all i think your numbers are off, insurance on $500K home is way more than $50 a month...also you will need 20% ($90,000) for down payment if purchase price is 450,000......then you also need to consider other expenses like vacancy, repairs, property management (even if you self manage)..... as your first deal this is way too much risk for negative cash flow and the hopes of appreciation........if its still sitting on the market, then its over priced....... an appreciation play is not a smart first investment IMO

The drywall and carpet needs to be replaced (at a minimum).We were carrying force-placed insurance.

I use Thrive Insurance in OKC.  

I’m an insurance adjuster right now by day so I don’t mind awkward conversations lol.

Licensed and insured and has been investing for almost 18 years. does his own projects plus works on others.

Below is the math (all in % of house value):Rent: 12.0%Taxes: -2.8%Average Long-Term Maintenance & Repairs: -1.7%House Insurance & HOA: -1.6%Average Vacancy/FinderFees/Tenant Issues: -1.0%Property Management: -0.8%Total Average Annual Return: 4.1%I have heard landlords making 10% (no leverage) and 20-30% (with leverage). 

To determine cash flow I always subtract the following from my Gross monthly income: Insurance, vacancy, maintenance, mortgage, management, taxes, utilities, capex.  

Is anyone using Shelter Insurance for rental properties in Oklahoma City area ?

@Tom Gimer - a comment I want to add is I only buy notes which have title insurance and the sales contract from the seller also includes language that the note is a first position redeemable and valid note.

Well, we have no idea what their contract said about insurance but usually the buyer is responsible.