I believe that we should get commercial insurance.

This way we could take a 30 year mortgage and pay it off much quicker (7-10 years or so).My main assumption here is that it is beneficial to pay the mortgage off as quickly as possible, as to reduce the effect of accruing interest over the life of the loan.

It is the fast track towards financial independence and freedom that can open up many opportunities and make your life much more fulfilling and rewarding.What I am talking about here is investing in real estate!

"Wholesaling" is the new breed of mostly unlicensed brokers with no education, no insurance, and worse yet, no clue.

Then add ALL costs related to holding the property (utility costs, insurance premiums, property taxes, loan payments, etc.).Concessions: Concessions are what you give back to the buyer at closing.

If you paid $250,000 on an SC property that rented for $1700/mo:Annual Income                                      $20,500Taxes                                                         3,600 (would be about $1,200 with owner occupied)Insurance                                                      800Maintenance allocation                              2,000Vacancy allocation                                     2,050Net operating Income                               12,050CAP Rate                                                          4.8%On most rentals in the Charlotte area I look at a minimum of an 8-9% CAP rate.

Tenants walk, it is a fact of life.

BTW, my monthly expenses are all encompassing - any mortgages + insurance, taxes, vacancy allowance, capex - but not taxes, since those are (largely) offset by itemization.

Can anyone out there recommend a good ,fair, and insured rehab company or contractor that can handle all phases of a complete rehab in the Birmingham Alabama area ?

The only difference is, you get the list for life, it will give you cash buyer's from the entire U.S.