Is it possible to have General Liability Insurance to cover me in case one of the tenants gets hurt.

These include loan payments, taxes, insurance, utilities, lawn care, and any other costs that occur during the Rehab period up until the property is fully rented. 

But my wife and I had some significant health issue and our credit and income won't qualify.So I am thinking of selling. 

I will assume you have insurance against loss but the quality of the ins company can make a HUGE difference, and god forbid you need to be made whole from a catastrophe you will wish you had paid a little more for a top rated firm.

I doubt that is enough room for taxes insurance property management (would likely be $240 on its own) vacancy, etc.

State LLCs, title companies, paperwork turnaround, agent customs, local banks, insurance.... this part was a little like building relationships in a foreign culture - even words are pronounced differently here.

Info: 20 units for $1.45MIncome: $17k/month :2 x 10 unit buildings (tenant pays electric) 4 x 2bed/1bath @ $900-$950 6 x 1bed/1bath @$700-$750 4 x laundry units Cap Rate 8.3Expenses: Property Tax $35,231.50 Water $9,450 Insurance $5,000 Scavenger $1,906 Fuel $5,954 Electric $1,247 Other $4,687

What does your insurance provider say?

Here's an example of what I'm talking about:Purchase price: $10,000Rehab (everything new): $40,000Total "all in": $50,000 (fully financed, 15 year note, 5%)Rent: $650/month.If I apply my normal formulas to it....10% maintenance (-$65)10% management (-$65)Taxes and Insurance (-$70)5% CapEx (-$35)NOI: $415Less debt service (-$395)Profit: $20/month.We haven't factored in vacancy.These are real numbers I'm getting from some investors in my market.

The only SAFE way for you personally, is to get an umbrella insurance policy.