My estimated monthly expenses (mortgage, taxes, insurance, PM fees, potential maintenance costs) comes to $2,040.

. - standard disclaimers about questions apply.Thanks very much.sw

Hi Guys,I would like to get recommendation for home owner insurance companies which can provide a good quote for rental properties.

You need a purchase and sales agreement or standard real estate contract between you and the seller. 

I was wondering if anyone has dealt with flood insurance?

I was wondering if anyone has dealt with flood insurance?

What would the mortgage payment be with taxes and insurance included versus your current rent payment? 

What I am saying is, you need to do what works for you, not what makes your realtor happy.If you can't buy a house in your market with an inspection contingency, you had better figure out how to insure the house gets inspected one way or the other.

Here are my quick numbers on the deal:$1,600 gross rent-$570 ish for mortgage-$160 for management (10%)-$128 for maintenance (8%)-$128 for CAPEX (8%)-$128 for Vacancy (8%)=$486 month or $5,832 a year (12.9% CoC)Then you still need to budget for Taxes & Insurance, this would drive down your return further.

What should I be asking of the contractor to be certain they are insured properly & feel confident they know what they’re doing?