That being said, a contingency clause can cover you and allow you to back out if the property doesn't appraise.

So it doesn't surprise me that you have rented apartments rented for 2k when it doesn't seem to be enough to cover all the expenses.People have been investing in Hoboken for price appreciation which in the past years have, by far, exceeded cash-flows returns investors made in other places. 

That was on a $250K SFR my total closings in NY without my down payment was almost 18K luckily I got a sellers concession that covered most the closing costs. 

We want to put in a concrete patio to cover part of yard but need ideas for rest of yard.Can Anyone recommend ideas with our $2000 budget, pictures of your projects would be appreciated!

I have two roommates paying almost my entire mortgage, leaving me to only cover about $100 at the end of the month.

Let's say 25K or whatever would cover the rent for two years for the policy and  you are the beneficiary.

Other minor cosmetic work may include new light fixtures, switches, and outlet covers, carpeting removal and shiny hardwood floors.

Insurance companies will charge more for you having these added to the pool, (at least the ones who do their due diligence)  You don't want to be caught not listing the playground, then someone gets hurt and the insurance company comes back and states that it was not covered under the policy.It's a great amenity, but may be costly.  

By ensuring that each tenant member is capable of covering the lease by them selves, you are at less chance of risk of non-payment, should things go sideways. 

He said that it was a good idea as any business transaction should be done under an LLC as a homeowners policy likely doesn’t cover contractual liability.What else do I need to go along with the LLC?