Life insurance companies on the other hand have longer term liabilities and they look for longer term assets (25-30 year loans) to match that.

I signed up as a pro member of BP, joined a webinar by @Brandon Turner, analyzed a potential deal, have been listening to 1 podcast per day for 6 days a week, have been reading BP articles, started reading BP's The Ultimate Beginner’s Guide to Real Estate Investing and Building Wealth One House at a Time, bought 4 BP books, created my BP profile, talked with a California real estate agent, talked with an Indiana real estate agent in referral, talked with a friend who's a real estate investor, asked friends for real estate agent referrals (even out of state like Nevada, Chicago and Tennessee), etc.Bottom line is I'm super pumped about real estate investing :) Just in case anyone is curious, I'm looking for a team of mentors, real estate markets outside of California markets, real estate agents, mortgage brokers/loan officers, real estate attorneys, property managers, contractors, insurance agents and handymen.

Get an umbrella insurance policy and wait until you have assets to worry about an LLC.

The rental market in my state is insane, median rent is around 1250/month most of what I can find is around $1500/mo, So I started thinking, Maybe I'll just get a house the mortgage wont be too much more, upon doing research and talking to mortgage brokers and real estate agents, on a 160k home with only 3.5% down My mortgage would be around 1400/month which includes taxes insurance pmi etc.

My criteria for buying are at least a 10% CoC return, and $100/month or more in net cash flow PER door (hopefully closer to $200/door).List Price:  $179,900Down Payment:  $44,975  (25% down, assuming I buy at list price)Repair Estimate:  $5,000Closing Costs:  $2,500TOTAL CASH IN:  $52,475Loan Amount:  $134,925Loan Terms:  5.25% fixed rate, 30-year mortgageMonthly P&I:  $745Monthly Rents:  $2,000 ($1,000 per side)Vacancy Loss:  $100/month (I estimate 5 - 8% on multi-family properties, depending on how popular the area is).TOTAL MONTHLY INCOME:  $1,900 ($2,000 - $100 in vacancy)Taxes:  $154/month (you can usually find the actual tax amount paid for the previous year on your city's website)Insurance:  $100/month (ask other investors in your area what they pay, or for recommended agents who can give you quotes)Water/Trash:  $80/month (this is typically paid by the landlord in my area)Sewer:  $50/month (also typically paid by the landlord in my area)Lawn/Exterior Maintenance:  $75/month (my property management company offers this service)Maintenance:  $100/month (people budget anywhere from 2 - 10% for this... if it's a well updated and maintained property in an area that attract responsible tenants, I budget on the low side)Property Management:  $100/month (usually 8 - 10%, but you can find PM companies that do it for less... just make sure they're good at what they do!).

If turns out to be a rental (which is my expectation) then I will bank the cashflow and work towards the BRRRR strategy to add another property in the near future.What I’ve been doing lately to make dreams realty:-Listened to one or two BP Podcasts a day-Spent tons of spare time on Zillow browsing properties-Identified a single family property that has real potential to be my first deal-Gotten an insurance quote and dug up tax records on the property-Talked to a couple area realtors and chosen one whose background and experience best fits my goals-Toured the property-Crunched tons of numbers based on different scenarios-Arranged a second showing for tomorrow, with a local contractor who will be joining me for the showing to provide a quote on the work that would be needed.I am super excited for tomorrow!

Does anyone have recommendations for an insurance company that will blanket them all into the same policy?

. + Insurance companies and holding companies. + Operators of residential and non-residential buildings other than hotels, motels, or rooming houses. + Persons operating camps and trailer parks where charges are made for rental only of real property are exempt from the tax.

Did you get the title transferred properly, with title insurance?

A 2400 square foot duplex (1200 square feet per unit) at roughly $150 per sq ft to build = $360K  So, roughly $790K all in.We estimate we can rent these brand new units for about $2500/month, grossing $5000/month.We're not sure what the property will appraise for when done, but if we refi once it's done (BRRR) and pull $700K out, it looks like the mortgage payment + taxes & insurance would be about $4000/mo.