If a lender has $500k to lend to you, they have $500 to cover their processing fees and an appraisal.I'd be careful...

@Tanner MarseyI think Andrew pretty much covered how to analyze it as an investment.

I started entering things on my own with TaxAct and quickly found out when it comes to the rental property part, that I don’t know exactly what I’m doing and would much rather have a professional do it correctly and quite possibly more than cover his fee.  

You got some good comments already.The one thing I would add is if the gas covers heating, then it depends on whether the custom in your areas is if the heat is included in the rent.

Also and damage costs not covered by their insurance company the tenant will be personally responsible for.

Provider also mentions that this is a standard stuff use to cover their (inspectors) liability when they don't fully inspect an item.I am trying to understand how bad the roof really is and planning to get a independent roof contractor to check on the roof. 

The forums are really helpful and covers about everything.best of luck.

If my 3 bids come back higher then we will have to negotiate down dollar for dollar to cover.

Consider a well cover over your well, as well.Consider doing the project with the tenants there. 

With PMI, you would need higher rent to cover the additional PITI payment so if you need 2% to cash flow without PMI, you would want to raise, not lower, your rent to purchase ratio.