Cost is 285k im not sure what the closing cost will be im estimating the followingPurchase price 285kClosing cost 6kRehab [email protected]% conventional Down payment 5% 15kI dont know what rent for the area but i look and see maybe $1400 each unit Im doing $80 for water per month$125 insurance month$200 repairs per month$300 taxes per month$1487 Mortgage $700 plus Cash flow Am i missing anything ?

$1,200 insurance?

This could lead to a future event that optionee comes up and buy my property at a stipulated price.Currently, I have heard a few things:- Title company: they say there have been a few transactions after this Option, there should be no issue, but this is not covered by insurance- an unpaid legal advice from a local lawyer: this is a defected title, should cancel the purchase- Realtor: we will try to remove this, but this is not an important issue- Realtor friends: No.

Is the insurance price correct?

These include loan payments (if you had them), taxes, insurance, HOA fees, utilities, etc .. that occur during the Rehab period and up until the property is fully rented.I understand your reasoning for the 60% LTV to gain better cash flow. 

For servicing, As for servicing it ranges from $15-95  monthly depending on if it's performing or non performing and whether you elect to have escrowed taxes and insurance.

However, despite all the documents I have for my property, along with assessor/auditor internet resources, I am having a difficult time finding a map which accurately depicts my property line.

If you interview for firms confirm if their insurance covers property management. 

No title insurance, no closing, just meet up with cash and sign everything over.

There is a clause in the HOA insurance that will cover pipe repair and replacement if the building is declared condemned by the city due to water-related issues.