If you're worried about the liability issue, there is no need for an LLC, just get an umbrella insurance policy that will cover you (basically same thing as LLC).

This is used by the appraiser to confirm the ARV and sets up a budget for the loan.3) Proof of insurance.

The main reason I am looking at wholesaling is that the market in my area is really strong and this is the only way (other than a foreclosure auction) I can see getting properties at the price point I need to insure some cash flow. 

.- Insurance - this cost will depend on the property but likely that it will cost more than $20/month by at least 2x.- Water/ Sewer - Should be able to charge back to tenants.- Interest rate - Feds raised rates again, so might be tough to find a non owner occupied (assumed due to your location) conventional loan @ 5%.- Confirm property taxes on the county website.Feel free to PM me if you have questions. 

Fix and flip homeowners insurance recommendations please! 

HOAs: $0 (didn't see any)Monthly Insurance : $100 (is there an average estimate for this number, I found postings saying about $50/mon per $100k)Other Monthly Expenses: $0 (I know this can vary a lot, what are ya'lls thoughts on what you often put here)VARIABLE LANDLORD-PAID EXPENSESthese are based on Brandon's rough estimates:Vacancy: 5%Repairs: 6%CapEx: 7%Management: 10%FUTURE ASSUMPTIONSAnnual Income Growth: 1%Annual PV Growth: 1%Sales Expenses: 8%This is a lot of info, though I just need some input on the couple of numbers that I dont quite follow.

We need to have “reserves” set aside, which is a percent of the mortgage, taxes, insurance, HOA that can be used for payments.

This plus appropriate insurance affords me the asset protection I believe I need.

You also want to determine if the buyer wants to do the work themselves and if so, will the particular loan program allow it or does the loan program require a general contractor, licensed, bonded and insured to perform the work?

According to Zillow and my mom who is a real estate broker the house is worth between $185k-200k.I currently have the house rented for $1200 per month with approximately two months of rent going to insurance and taxes.