Deposit your rents into the checking and move your deposits, insurance and maintenance from the rents into the savings. 

Get a umbrella policy from your insurance company - this will add a level of protection if something happens at your property and you are sued, i.e. your tenant slips and breaks their arm...2.

Shop around, you should be able to get a property insured for less than $800/yearYearly maintenance - this seems low.

Assuming you use financial wisdom and insure your income more than covers your leverage not using it is financially stunted.

.$450K purchase price, 25% down...30 year fixed rate mortgage at 5% on $337,500 is $1,812 per month...So if you have zero vacancy you'll break-even on the mortgage...And then burn money on maintenance, cap-ex (likely very limited), any vacancy, property taxes, insurance, etc.Consequently, you really, really, REALLY need that home price to go up. 

Its why you have reserves, to fix the unexpected.Now if the damage isn't sub $500 and I misread it, and its going to be a lot more, file with insurance and let them sort it out.

You should determine the monthly cost for property taxes, insurance, repairs/maint, capex & maybe vacancy.

If you have a fixed rate amortizing loan, your mortgage payment stays the same from year to year, but property taxes and property insurance premiums tend to increase. 

Hello everyone, I currently have 6 properties all in Maine and all insured through Allstate. 5 are landlord policies (3 unit, 4 unit, 3 unit, sfh and 3 unit) and one is home owner (4 unit).

The insurance company put tenants up in a hotel.