This is a mom & pop apartment so there are no financials just rents and the expenses that were included was insurance, utility and that's it.I am trying to build a pro-forma with the info that I do have.

Is this standard while applying for an FHA loan to receive an up front mortgage insurance premium and then have t pay a monthly mortgage insurance premium?  

I'd be interested in your thoughts about this: -Listing price $125k (comps show past solds are between $100k - $115k) -2 units: each unit 3 bed/3 bath ($800 + $850: total rent is $1650/month) Both tenants want to stay-Taxes are between $1750-$1800/year-Home Insurance: getting quotes between $1100/yr - $2000/yr-Good school area: Great schools show elementary/middle/high are between 7-9-in HOA: HOA fees are $40/month - go towards a community pool- property built in 2010- property management at 10% (I debated managing myself but am 1 hour away) -tenants pay all utilities-was part of a huge development that didn't get all developed, there are lots of vacant lots between propertiesMy goal is to get at least $500/month in net cash flow after all expenses are paid at and least 15% cash on cash return. 

You might be lite on the insurance number.

What type of insurance/coverage should we get?

Cash flow was positive until insurance rates for my area doubled.

Not trying to twist the knife once it's already in here, but you also aren't accounting for other expenditures such as taxes, insurance, vacancy and any other ongoing maintenance.

Taxes, repairs, insurance, and everything else comes to $4,000 per year.  

But I had some damage , shingles , about a square and a half blew off 1 of my rentals , I will be using insurance on this one , its not minor .  

Hello All,  I am out shopping for an affordable property insurance for a 27 unit gated complex in Austin Texas.I have owned it close to 10 years with zero loss runs and 0 claims.