I'd love to discuss any tips if not, just connect with wholesalers and potential investors willing to give me a chance :) I'm ready to make that first initial sale that everyone talks about.Just a little about me:24 years old and really motivated so don't count me out just yet!

If your estimate of $60,000 is correct then you need your limit to be at least $48,000 to avoid a penalty. 

Can anyone recommend any good resources or rules of thumbs for coming up with a ballpark estimate for property insurance when doing a quick analysis of a rental property?   

Is this a Morris Invest / Oceanpointe property by any chance?

So you are essentially looking at 1500 a unit for a 3bd- 1200 a year for insurance seems low, to be honest- unless you got a quote for this prop 2160 a year seems low for taxes 1200 for lawn/snow a year is high... this winter was bad, and it also depends on if you have a driveway etc or just street parking Closing costs- you can get a good faith estimate from your lender- they may be a bit higher Also, you want to consider if you would be inheriting tenants.. or if they are way below market rent, 

@Ben ErtlAs far as knowing how much renovations are going to cost, I'd recommend getting "The Book On Flipping Houses" and the estimating cost book that goes with it by J.

Banks estimate net rental income as (75%*rent)-PITI. 

Be conservative with your rent estimate.

Honestly $10k is probably a pretty reasonable amount, just make sure you know exactly what work they will do for that amount and if it's your first time with that contractor get a few other estimates to compare.

Jason DiClemente do my numbers/estimates sound reasonable?