Also having the wrong type of insurance is like no insurance at all. 

Wrong glue or wrong install and you have an issue.

Please if his information is wrong can someone offer a source of the information?

I almost lost a deal and my Buyer also didn't use my services because he saw the problems I had and didn't want to risk anything going wrong.   

This is wrong!

Hello,We closed on a house yesterday, a rent stabilized (or so we thought) 3 family. One of the units was currently rented for $3300, with an accompanying lease and last month's rent deposit collected at close. Howeve...

On the other hand, it can seem easy because you can sometimes break all the rules and do things "wrong" and have the market bail you out in the end with a big profit from some crazy buyer who needs a house.I think OP needs to do a lot more research to understand RE before investing.

@Charles CarilloI hear what your saying.The the property I’m looking at will have a payment of 1500 for piti and interest only is 1175 that’s an extra 3900 for the year.Am I thinking the wrong way because the banker don’t agree with me either?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Again, thank you for your help as I don't want to steer her wrong.