Also, I do not see an expense item for property insurance.

Hi Brian,Assuming this is a life insurance/agency loan, the loan documents should detail any loan assumption fees.

And no, you cannot just use the loan proceeds to pay it off right away if you don't use it because of all of the fees associated with loan origination.

So it might be a good idea to pull the trigger and get that out of the way... unless you are going to use the proceeds from your home sale and buy with cash.If you are that far away from buying just hold off.

I need paint, flooring, and maybe a roof (depending on if the insurance company will let it fly).

He’s asking about all the other expenses that go along with being a landlord.Vacancy, insurance, property taxes, repairs, management...

10 roofs 10 tax bills 10 insurance policies 10 wet basements 10 closing costs 10 clogged gutters 10 city code inspectors 10 yards to mow .. the list is endless .

Try to make sure these things arer known upfront and in writing before you proceed next time.

I found insurance for the type of renting.   

Do not forget any ongoing expenses you'll have like possibly insurance, property taxes, or anything else?