Title says it all.

Through self education was able to become both a licensed insurance agent as well as Supply Chain Account Manager, each for over year.

The question I have is, does the insurance and property tax get calculated in as part of the 50% expense?

Both the seller and the seller's agent signed the affidavit of title stating "we have always obtained all necessary permits and certificates of occupancy."

Our townhouse is in my wife's name only on title and mortgage.  

Your insurance might not cover a garage fire/explosion spreading to the attached house, and the heirs will be on you for his wrongful death.

Regarding insurance: I'd see if I could get them switched to State Farm- they do not discriminate based on breed.

You might try to just have your own management company where you are actively involved but get people with the title as assistant manager or something where they are absorbing all the calls and taking care of the routine duties and you are only brought it on important issues.  

Your home owners insurance will change to landlord insurance, which may reduce your premium cost.  

And you need at least 20% equity as conventional loans are usually 80% LTV.The benefits are getting a lower interest rate, at least with the rates we have right not, and getting rid of Private Mortgage Insurance, PMI, which is about $220 a month for me.