Here is how it played out:Purchase $72kRehab $45kRefinancing/cash out at $125k with a note at $861 tax and insurance included.

Just make sure when you analyze the numbers to factor in all expenses (ie. maintenance, vacancy, CapEx, taxes, insurance, property management fees, etc).

Also, a home that costs $85K with 6.5% interest and 3.5% down would still be about $500+ per month on mortgage (depends on your credit score), and on top of that you'd have to pay insurance for having equity less than 20%. 

What about taxes insurance m, capex, repairs and vacancy ?

For investors who wanted to sit on the house and rent it there were the additional expenses of water insurance.   

They are a rental guarantee insurance company that helps tenants with less than stellar credit or people that just moved to the US without prior credit history.

Hi,I am about to become a first time landlord and was hoping someone could shed some light on what type of insurance I should be looking into for renting out a single family home.

Does anyone have any input on estimating taxes, insurance, and water on multi-units in Grand Rapids? 

All three together the rent, insurance and property tax is $2,500 a month.

All three together the rent, insurance and property tax is $2,500 a month.