(i.e. taxes, insurance, maintenance, capex)If you have a lease option with 5-year window, can the owner sell that property to another buyer during that time?

There are always special assessments and new ones being added.I think your insurance is a little high at $4500 year. 

My husband says absolutely no to anything that requires flood insurance but I would love to find somewhere to invest at the Jersey Shore.

Over the last month or so, I took the required 90-hour broker pre-licensing course online, passing the course and also the Indiana state exam just last week.My plan is to never quit my W2 job, as I have a good, steady income, insurance, 401k, profit sharing, etc.

It also helps me organize contractors (when I am doing the GC work) to make sure all necessary steps are completed before, for example, the plumber shows up to rough in plumbing.

RM’s are Insured by HUD, therefore the HUDguidelines......for at least the first 180 days, the property must sell for 95% of appraisal for the lender to be reimbursed by HUD....24 CFR 206.125Typically, the lender will order an appraisal prior to listing the property for sale.  

The Profit you will have is not necessarily 2k a month what about fixes, insurance, utilities, trash, and just pesky little repairs? 

What if you inform tenants that your insurance co requires all persons residing there to list make and model of  their cars.

After taking into account property taxes, utilities, water, insurance, and a 10% repairs & capEx fund, I figure he's making ~$5,000/month. 

If any member ever has a question about insurance claims or a closing, do not hesitate to reach out.Daniel Alvarez