3bed 2bath home that i estimate can rent for $750.The seller financing terms are 5,000 down and a payment of $550 a month that includes taxes and insurance.

Detailed annual expenses include: vacancy rates, specific tax rate, 10% for property management, liability insurance, sewer, electric and gas, snow and lawn care.

have you factored in insurance and or financing costs if you need it? 

It also provides some insurance against mistakes.

Even if you have a vacancy you still have the other tenants paying mortgage taxes and insurance .

Also look at what assets your construction company owns. if you have very few assets and you have sufficient insurance then there is little to be concerned about in case of a suit against your company.

I have particular strong feelings about this, but I may be the exception.The insurance and annuities side of your business will be a very distant next area of importance for me, but for a younger person that needs to provide for a young family without other assets this might be a little higher on the list for them.There is a financial planner in my local market that will also shop insurance providers (including car, home, health and rentals) to find the best value on insurance as part of their service for their clients.

I am still a bit of a newbie investor but do feel like I can add value to a project through being a licensed realtor, current business ownership experience (5 years owning an insurance brokerage), and having some capital to invest.

I see so many room illegal additions/conversions where the homeowner spends a lot of money on the project, but when they sell the appraiser assigns it no value because the square footage is unpermitted.

This is area specific, but for me it is attorney fees, transfer tax, tax adjustments (county, school and village) title fee and title insurance on the buy side.On the close side it is attorney, transfer tax, tax adjustments, and realtor fees.My latest house ($120k purchase) cost about $8500 to buy and will cost around $11-12k to sell.