As we plan for financial independence, and calculating our target financial goal, one big (unkown) piece of the puzzle is health insurance costs.

The assignment assigns the Mortgage to youThe allonge transfers the note to youAs for due diligence :Are the notes Dodd Frank CompliantHow much are you investing relative to the current unpaid balance (UPB0How much are you investing relative to the current Value of the propertyAre there unpaid taxes on the propertyAre there any unpaid liens on the propertyAre the borrowers currentHave the loans been professionally serviced so you know the pay history and the correct UPBDo the borrowers pay on timehow long have the buyers been in the property, do they pay on timeAre taxes and insurance escrowedIs there insurance naming the lender is there a lenders title policy

Also, call your insurance company and ask how many properties can be insured under one LLC.

Rentals conducted as “net leases” (the lessee is responsible for all lease expenses, including taxes, insurance, rent, operating expenses, any mortgage interest/principal payments, etc.), however, generally do not qualify as a trade or business.If Non-recourse:No debt discharge income results from a foreclosure or deed-in-lieu transaction involving only nonrecourse debt.

Mid-$30k/unit  so with financing, insurance, etc CAP rate comes in around 9%.HOA has ~$30k reserves, roofs refreshed ~5 years ago. 

@Stephen Sykes I would suggest Suzy Jennings with Insurance Solutions.

The place to start is by calling your insurance company and asking them what your policy would cost.  

As far as protection, an umbrella policy can be sufficient for protection, but you'd want to talk this over with an insurance agent and probably a lawyer as well as I am neither of these things.

Insurance, tax, water, electric, garbage.$7,000 maintenance last year $5,000 of it from a roof repair.I think for this complex I will need to put down 35%, which I have saved up, but it's pretty much everything I have saved up.If I put in a 5% vacancy, and $3000 annual maintenance.

The lender wants me to insure the house for Replacement cost which is 361K...