If you provide specific information such as the address, property purchase price and value,  credit, property rental income, taxes, insurance, experience, and Fico you should be able to get a term sheet detailing all the closing costs. 

It's all about risk in the event of a lawsuit, which can also usually be covered by insurance.- If you decide to have an LLC for each property, creating a Management LLC that all the other LLCs "hire" to run their books, will allow you to only require a bank accont for the Management LLC.2) You may not be able to do a Trust.

I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.

That helps some...but your variable expenses also go up too - property insurance & taxes - so a lot of your rent increases go to offset rising variable expenses.I started at the age of 47 in 2018 and we bought properties fast and furious - 12 the first year, 10 the next, and 9 in 2021 and currently have 38 properties. 

There's a big swing here in insurance and tax calculations I see and getting those numbers accurate are critical for your ability to not miss on good deals

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I have also filed a claim against his insurance company with hope of getting at least our monies from the contract back.    

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

Second, the insurance is $1.5k which seems to be low as well. 

That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too).