http://www.fdic.gov/news/news/press/2008/pr08098.htmlMonroe Bank & Trust Acquires All the Deposits of Main Street Bank, Northville, Michigan FOR IMMEDIATE RELEASEOctober 10, 2008 Media Contact:LaJuan Williams-DickersonOffice: [email protected] Main Street Bank, Northville, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.

Rent is only $950You still have taxes and insurance to pay.How can you refi and pull out any money?

I've read every thread in here on LLC's vs umbrella liability insurance.

The woman held the property for a full 2 years, paying insurance, utilities (including heat), taxes all the while.

This is so thin that I don't think you can afford two sets of closing costs (in particular, title insurance).

Is to get a ride a long with an insurance adjuster and bring your sponge brain for maximum absorbing.

Some of the expereinced folks here use a rule of thumb that says expenses (including insurance, taxes, vacancies, maintenance, management fees etc.) will be 40-50% of gross rents.

They have a team in place, including a title company, appraiser, property management, rehab contractor, and insurance company.

Maintenance, insurance, taxes.

I'm willing to do all the work, and remove some risk with appropiate insurance, and an equity investor to put up funds for 1/2 the ownership.