Therefore, I would suggest holding your properties in LLC's and of course, having insurance.If you look at most insurance policies, you'll discover that they don't cover many of the things that tenants like to sue for.

IM AN INSURANCE PROFESSIONAL ON THE MS GULF COAST.BELIEVE IT OR NOT IM IN THE TRANSPORTION BUSINESS TOO.I WANT TO GET OIUT OF THE HUSTLE AND BUSTLE OF 8-5 IN MY CASE 24/7 WORK SCHEDULE BY UTILIZING MY SKILLS IN BUSINESS THROUGH REAL ESTATE.

Seperate meters for all units, no grounds keeping, insurance and such at very, very low numbers?

You would be doing Residential financing, so the rules are somewhat different.Most banks will require PMI (Private Mortgate Insurance) unless you have an equity position of 20% or more, that means 80% CLTV (Combined Loan to Value) or less.

Buying right is the best way to insure a good investment.

Don't include taxes and insurance, those go in the expenses.

When banks do these loans, they require significantly higher down payments to insure their equity position in the event of a foreclosure.

They do like it all (just like insurance agents) like the post above said so build a relationship.

Thanks Mike.The problem with Long Island (Even during this Real Estate slump we're in) is property values here in addition to the ridiculous taxes and insurance make it very hard to cash flow.

You'll also have other prepaid items like a appraisal, insurance, inspections, and surveys.Rental:You have your total acquisition costs as a starting point.