First time investing, and I am eternally grateful for having people I really trust to walk me through the process...learned alot about property taxes, management, insurance, leverage, etc.

Hello All, Currently, all the properties I own are currently rentals while 1 is being rebuilt via insurance due to being destroyed by fire.

.$150/month for insurance sounds low.What about the water bill?

If you do buy the property personally and then transfer it to your LLC, that could trigger the due on sale clause found in most standard mortgages.

@Chris Hewitt most every bank offers a standard 20 year commercial loan.

@Trevor Asay, you're close to a 16% margin, which is pretty standard for flips.I think a 90-day turnaround is too optimistic.

For other newbies, this means that while it doesn’t help or really hurt us too much, about $200 a month in property taxes and $70 a month in homeowners insurance does count against us for qualifying.

Do they have renters insurance?

@Melinda Pajak you can look into longer term debt through life insurance companies.

This way, you'll maximize your rate, your loan to value and get a lower cost on your mortgage insurance if you're over 80% loan to value on your new home.Best of luckStephanie