I have a decent budget for a down payment for several units and I was thinking of starting with something like the following...Unit type: Condo (only looking at turnkeys; not going to rehab - much)Asking price: $182,000 - would offer $160,000Fair rent price: $1,600/moProperty taxes: $2203/year; $184/moHOA: $223/monthMortgage (P&I): $635/moLandlord insurance (estimated): $20/moOptional considerations:Property management: $160/mo (10% of the rent; I am not going to use property management at first; I will manage it)Vacancy: $160/mo for as long as it is vacantRepairs: $80/mo as neededI obtained the optional numbers above from here:https://www.biggerpockets.com/renewsblog/2013/01/1...This comes down to...Worst case scenario of $138/month given vacancy, property management, and repairs.Best case scenario of $538/month without any of the optional considerations - so hopefully this is the profit I would be looking at almost every month.Thoughts?

I am trying to analyze a lot of properties and i am having trouble with figuring for property insurance.

What documentation is required to release funds to the estateI am asking this because out of respect for my tenant, who I really liked, I tried to be compassionate to his family.

That’s why I always recommend buyers don’t take the “free” title insurance offered by the bank.....their title policies searches “avoid” looking for unrecorded liens, and except them from the title policy.

You can get credit for any option fee that you paid and also any rent credits that are fully documented, so long as the rent credits are over and above what the market rents on the appraisal comes in at.

I have my taxes/insurance figured into my Net Operating Income, so I should exclude taxes/insurance from my Debt Service costs, correct?  

That's why you see a lot of contracts and other documents that include an exchange of $1.

Also your insurance and electricity budgets seems on the low end but I may be biased to that because I live in a place where insurance rates are insane.

. - They generate high carrying costs from interest, taxes, insurance, utilities.

Is this normal or should there be some documentation for renting the space?