My actual insurance premiums range from under 1% of ARV to around 1.5% for Replacement Coverage.

It also depends on price range etc. the one bed one bath will be on the lower end of pricing in the area so I may recommend getting a realtor to do the credit checks to make sure you get a good tenant unless you are comfortable doing it on your own.

I'm Interested buying several lots ranging from 1-4 acres for a total of 12.97 acres.

By the time I'm finished the property will fit within the comp range in that neighborhood.

Real estate is unique and is not comparable to stocks or bonds or annuities or commercial paper purchased on an auto dealership!

I'm on a large investment brokerages marketing list for Manhattan and Brooklyn and I've been receiving offerings running in the 3.5% - 4% range for four to six story walk ups some with ground floor retail.Because I'm not a buyer in these markets I've not actually analysed the markets and or market comps.You should reach out to the broker for clarification on the free market rental units.Note: I'm sure you are aware of this, but in the event your aren't the rent controlled units are nearly impossible to convert to free market.

I always figured it was out of my price range...will be checking it out for sure now though.  

You probably have lots of competition at that range. 

Based on your location in your profile, ANYTHING in the bed/bath range that you provided is a steal at 177k (from what I understand of the markets up there, that is).

I'm looking at buying a set of 3-5 du/tri/quad-plexes over the next 5-8 years, then transitioning them into a 10-20 unit apartment building.End game is somewhere in the range of 50-100 doors spread out over 2-5 high-quality properties.