You purchase title insurance in case there is a lien they missed.It sounds like you merely defaulted on the contract.

For bookings, I recommend FF, Airbnb/VRBO (30+ day stays), Zillow, Facebook (can depend on the area), and websites like ALE solutions for insurance placements

The highest appreciating markets and those with the greatest rental demand/price- like those in Florida and Texas - also cost more to acquire and insure. 

Keep in mind that your mortgage terms and insurance premiums will probably be less favorable in an LLC.

- Warrney => insurance => make money by delaying & denying claims.6) PMC - finding a good one is TOUGH!

Be sure to factor in management complexity, market research, and your risk tolerance as you evaluate options.Without a W-2, HELOC approval can be tricky, but some lenders will work with retired individuals, mainly if you can document stable income (rental income, retirement funds, etc.).

Property Taxes 11,000 yrly, insurance 4930 yrly.It falls short of the 1% and 20% rule.

Only government and insurance companies insist on not letting go of mail.It's good asset protection.

Yes you have insurance, but it may not cover everything.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!