E&o insurance, general business liability insurance, mls fees, electronic key fees, board association dues, print materials, website, facebook advertising, instagram advertising, direct mail, neighborhood events.

Are you planning to live in one of the units as a ‘house hack’ or it’s an investment property for you as this will greatly change your insurance rate as well as potentially your interest rate and standing on the FHA loan.

The two items I expensed are Fire insurance premiums and Fees for an appraisal required by a lender.

At least not in a professional capacity, without consequence and substantial risk of liability.You can disagree all you want but that is how most businesses operate, banks, insurance companies, retailers will all listen to customers, make execptions as gestures of goodwill and they know more about running a business than you do.

The fact that both of the tenants also have felonies is concerning as well.I do rent to tenants with dogs but I require that they submit proof that the dog has been spayed and neutered and that they obtain renters insurance which covers the dog.

My concern is that rent in OC is not as high as some other areas nearby, such as Portland...so the rental fee would likely be only about $50-$100 more than my mortgage payment (my payment includes insurance/taxes, by the way..so I am accounting for that).   

Well, these were her specific words "The only thing that can be rolled in is FHA upfront mortgage insurance premium, which I have already done.

The lender will need a "condo questionnaire" completed, along with the budget, insurance and contact for the management company, to make a decision about lending.   

My background is in insurance.

Investing in CA will maximize your equity/loan pay down (vs cheap properties out of state), maximize the total value of your treasured fannie/freddie loans, save you travel expenses, leverage your money to higher appreciation, low property taxes (as a ratio), and low insurance rates (as a ratio).There is no rule that you have to invest only for appreciation or only for cash flow.