Your insurance is going to be highly variable and I wouldn't use what an agent or the seller tells you as the cost of dwelling policies have increased substantially over the past few years due to rising new construction costs. 

Quote from @Hunter Hanlon Taylor: I ended up using The Mortgage Shop, LLC! 

@Mad Dendukuri easy solution - tell the tenant you can't afford to do flooring AND put them up somewhere, so deal is off.Either they will be reasonable or show themselves to be greedy and someone you should get rid of.

By creating separate entities for the investments, you are looking to shield each investment from liability from the other investments.

I will probably buy the audio version.

He's a really smart guy when it comes to supply, demand, rent control, and overall investing

I've been waiting for this property to come up for sale.

It does seem competitively priced for the area.If anyone has insights into how the existing HELOC might impact the mortgage assumption or tips for negotiating on a deal like this, I’d greatly appreciate it.

I am just about to close on my first rental here in January.

We use DealCheck to underwrite deals and QuickBooks Online for everything else post-closing on the purchase.Quickbooks Setup:- Classes allow for separate P&Ls for each property. - Products & Services enable us to track each 'phase' of the rehab. - Projects give us visibility on my projects- My CPA can easily access the reports for tax preparation.