The property consists of 4 structures - 2 duplexes, an SFR and 2 car garage, and has 3/4 of acre.Here is the link to my analysis using the BP calc assuming a $455,000 purchase price and below is quick summary.https://www.biggerpockets.com/calculators/shared/260799/874435c9-b77f-4f96-a3de-90be11c4cbbaThe asking price is $475,000, Assumed purchase $455,000.I've assumed $30,000 in repairs as a place holder (TBD)Current Rents total - $4,700 + an additional $75 in income from laundry machines _ According to listing broker.Taxes are $5,868 (verified)Insurance $4,500When factoring in other expenses - landscape maintenance, water, elec, vacancy, repairs, cap ex and PM I end up with $610 in cash flow.

Hey All, I've recently bought a property in Houston and had to file an insurance claim on it 2 week after I purchase the property.

Combined they provide about 1K after payments, taxes, insurance, etc.One is valued at $270k (owe 171k) the other value $110k (owe 57k)  I would like to get the equity and continue to build out further assets. 

How much is insurance?

I had an insurance conference at the same time unfortunately.

@Jeongmin J.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice. 

Are you buying under an LLC, buying under your name and transferring to an LLC, having an umbrella policy?

The likely hood that you will convince him to change his policy and refund your money without filing is zero.

Would you drive a car without insurance, own you property without insuring it, then don’t sell your property without protecting yourself by using a professional.

This is why central banks act as lenders of last resort and governments provide deposit insurance and equity injections.