My fiancé owns 5 rentals and doesn't carry insurance on any of them.

I recall from my insurance policy in NC that I could go 90 days with a property being vacant as long as I was actively marketing it for rent or would be.

They'll deny your liability  insurance in a heartbeat for the kind of peeling paint issues we get down here.

I currently work in the life insurance industry and I am still shy but that is something I have to overcome. 

A 3 or 4 unit must also meet the self sufficiency rule (75% of total projected rent must cover PITI plus mortgage insurance).

Kind of like an insurance company, they use the pool of money from their customers to pay out in the case one of them runs into issues.

I pay mortgage, taxes, insurance, repairs, management, etc.Account B: Tenant security deposit is held separate from all other funds to ensure I don't spend it.Rent income should be more than enough to cover the mortgage so why are you putting money into the account?

I am not a property investor, but have friends who are, and they have told me stories of ruptures within their families because of inter-family rentals gone wrong.Adding to the mix is the fact that my mother, the owner of the property, is elderly and in poor health.

If tennats want changes you must insure that lisenced contractors are used and supervised by either th elandlord or their PM.Never allow a tennat to do any work, not even painting. 

I am doing a quick close on a property (15 days close with conventional loan) and I am paying 5% in closing costs and it doesn't include taxes/insurance etc.