I own several rental properties in the Cleveland Area and I also own a local insurance agency.

This is a job requiring permits, license, and insurance.

E - 1/1 $450 lease from 7/26/2006 - Middle aged male likely to continue to stay for an extended time.Taxes on the building would be roughly $2500, Insurance estimate $1200.

I am considering lending in second position, but requiring a quick claim deed to the property,  as insurance, and if borrower fails to perform on the first or my 2nd position note, then file the deed and take the house. 

Things such as 401(k)’s, IRA’s, and life insurance policies have beneficiaries.

Hire an exterminator.And get rid of the bad tenants now.As far as animals, I require renters insurance, I don’t know the law in FL, but in WI if a tenants dong bites someone, and they don’t have renters insurance, the victim can come after the property owner

In B.C. you can evict if a reno is required, renoviction.Here are the after reno numbers in CND dollars:Aquisition costs:Purchase 460kClosing costs 9kDown payment 115k (25%)3.1% rate on a 30 year Am (no other loan cost)Monthly expenses:Management fee (use local handy man on hourly basis, handle rents and tennants on my own) $150/monthProperty tax $336/monthRepairs and maintaince $435/month Insurance $120/monthReserve $300/monthRent Roll:Rent 1k per unit, 6k/monthVacancy 5% ($300/month)Reno cost:Renos 30kARV:650k (conservative)ROI:Cash flow $2,885.00CoC 22.49% (including reno costs)ROI 27.07%Cap rate 11.37%Looking for input, thoughts or similar experiances. 

Their mortgage insurance will cover their loss, so what do they care?

Hey Daniel, Did you include other expenses associated with the property such as repairs & maintenance, capital expenditures, property management, vacancy, taxes, insurance etc. within your analysis?

I thought I was going to receive my CTC at least by 11/30/17 (the date on purchase agreement for closing and date Lender told my home insurance agent).