Cheap with good liability coverage $1 M.If you are maximizing cash flow, and like the minimal "self insured" model of barebones insurance, then Affinity is a good bet.I saved around $400/year by switching  to Affinity last year for my texas property (sounds like a Geico commercial)

You mention it is a 70's model.  

The property is listed LP: $219,000Rental Value: $2,000/month (Seller claims $1,000 from unit 1 and $1,195 from unit too, but I am beign conservative)Tax: $375/month [$4500/12; ($4,076 estimate according to dallas county, ), I am rounding up)Insurance: $170 (Going with Seller's numbers for now)Principal+ Interest: $900 (Based on 4.5%, 30 yr and 20% down)Warranty: $50/monthVacancy: $160 (Assumed at 8%)Misc: $100Cash Flow: $2,000 - $1,755 = $245If the total investment is $46,000 (20% down + some closing costs), then Net Return is 5.3%?

v=UvmUgFnHhEkHere's an interesting model of some of the planned towers.  

The range is for whether or not the house already has duct work, model choice, and regional price fluctuation. 

Just like is it moral and ethical when unlicensed wholesalers talk some little old lady into selling their home for far less than what it would bring on the open market.. are wholesalers proud of themselves when they do this.. of course they are their whole business model is based on taking equity away from a seller for whatever reason.

The "we buy houses model" that's not a great dealA 70% of ARV minus costs equal $70,000 -10,000 materials and labor equal $60,000A better way is to use private money is for the REI is to borrow from a private lender $10,000 for materials and labor and do a JV with the sellerThere is pretty low risk for minor rehabs with new people, and I do understand what the OP is feeling that private lender money can get you in trouble if not used responsibly.But you got to get started somehow!

High-ranking officials in Georgia, North Carolina and Ohio have also cited Texas in recent months as a model for tax reform. [4]ChallengesMore than 30 countries have some form of land taxation, but this form of taxation isn’t free of difficulties.

Talk to Mehran K. and discover his partnership model.

Just so you know, Tesla Motors - the makers of the Model S - don't make any money selling cars.