We manage 300+ units, and we require ALL tenants to have (and maintain) renter's insurance before we give them the keys--binder faxed from their insurer is proof. 

As far as cash on cash ROI, everyone has their own goals and criteria but personally, I think and 8% return and $100/mth rent cash flow is fairly anemic, however, our markets are Indianapolis and Kansas City which are high cash flow markets.

@Andrew Erdrich I do a fair amount of mixed use in Kansas City.

I'm in CA - what do you think a remodel would cost if you were going to go through a fairly extensive remodel -- kitchen/bath/blow out a wall?

@Corey WoodmanI read your nicely written post all the way to the end.I am also fairly new to real estate and have done few deals since last year. 

I am fairly certain that it is buyer beware (Although I don't know California).

If you're able to work one transaction per year, the commission from that transaction should more than cover the cost of maintaining your license.As others have mentioned, it's totally dependent on your goals and comfort level.

I'm in the process of getting clarity from them on two points, which I'd love to have input from the BP crew as to if they are looking at things appropriately/fairly:1) Rental Income: I believe I'm getting 75% credit for rental income from 3 properties seasoned 4+ years. 

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

Roof is a fairly straightforward job - pitched 3rd story and small porch.