HOA taxes insurance.

Most people never use home warranties, they have them but they are never used because it is generally cheaper to just "self insure"  You might try First American though.

Early research tells me that rental rates are pretty good here (about $1.25 per sqft), but would like to see if real investors on the ground experience the same.Also, on flood insurance, i'm finding quotes ranging from $600/yr to $1,500/yr but not clear how that works within the different flood zones and asset types.

On the other hand having a draw schedule and fund control with inspections before disbursements could be good if you're new to this as it could keep your contractors in line and it will force you to collect all the necessary paperwork in terms of Certificates of Insurance and W9's.

Costs: taxes, insurance, water, garbage, electric, maintenance, manager salary, workers comp, office, legal, reserve for pumping etc. 3.)

I continue with my existing firm (Ultimate Realty Group) on the Illinois side. 

$200 a month for insurance on a $70k property is really high.

I would like to know how you guys estimate taxes and insurance. 

Taxes, HOA, insurance etc are bound to be different in different markets!

Asking price for a 2BR was a bit too high based on comp rents to get to our investment parameters but since the owner had no plans to use the property, I offered his purchase price in 2017 + 6% (commissions to agents) + $1,000 (assumed deductible on insurance for new roof), effectively getting a turnkey property without paying for the updates.