Then you can consider researching and finding something that meets your needs better.

This is actually better than many parts of town, but that's partially due to the quality of the assets there. 

For your specific situation I’d wait until you get $200k+ saved up and buy better asset classes…even if you have to wait 5 years.

It's even better, in this case, I will be walking away with a check for about have the month's rent and deposits.

But digging into old rental listings can help you get a better understanding of what their financials SHOULD look like, and allow you to put a real number on paper. 

The chart shows the trend is better than last year, but we'll below normal levels.

LLC or LLP or combination could be a much better fit.  

In NJ, for example, we rep a ton of landlords and require 3.5 months up front to rent which get you a better tenant and screening as we go through the NTN or rent spree (first month's rent, 1.5 security, 1 month realtor fee split between listing agent and rental agent).

Which I will do now.You didn't do anything "incorrectly" I just believe you'll end up with better results this way for any insurance needs.Very difficult to shop around on your own and rate hunt. 

I did fall into the trap of looking outside of Utah, and I still have one of those deals in my portfolio, but the equity position on my units here are substantially better.