- my only insurance claim in 28 years of car/home policies was for a windshield (road damaged) 10+ years agoI now realize it is likely for my State Farm policy premium to increase and after having read all sorts of horror stories online, I guess worst case scenario would be State Farm cancelling or not renewing my policy at which point I'd be at the mercy of high risk/$ options. 

Annual additional expenses run about $1000 per year, to include insurance, maintenance, etc.

The seller didn’t even know about it since it was vacant.I learned that the underlying lender did purchase homeowner insurance.

Natural disasters may occur anywhere in the country so insurance up.

Best case, nobody takes over your property, but you are paying a mortgage, insurance and property taxes on a property that you barely use...Ideally, you would buy a place furnish it and master lease the property to somebody who does furnished rentals. 

. $1325 monthly rent rent $15,900/yr minusYearly expenses of $660/Hoa (gates community)  $819 taxes, $561 insurance $1272 property management.

I just have to check myself.FourplexRent $575 per unitProperty tax 1.79% of your purchase priceClosing cost 2%Capex 5%Garbage $65 monthSewer 100/moMaint 5%PM 8%Insurance 2500/yr

We are putting 20% down to avoid mortgage insurance.  

So my fix cost will be $2250 for mortgage, insurance and tax plus $310 HOA.

As long as you get title insurance, it’s just fine.