I’ve been provided pictures, repair estimates, ARV, etc.

I am running my numbers and have trouble estimating insurance since I am not sure do I need 3 separate insurance plans(HO6) or 1 to cover all?

I'm a merchant marine, I work about 9 months a yr overseas doing military supply.. and earn a not great money but around 57,000 a yr on average last 8 yrs.. 2014 I bought my first rental property in Pittsburgh P.A.. fixer upper paid 20,000 cash and estimated 15,000 came right in on budget..

Speak with your lawyer to get more details.  

My contractor estimated about 20k in repairs and roof/mold will cost around 10k.  

I'd like to dig deeper into why the naysayers are opposed, and what details you supporters specifically refer to. 

Here are the details I have now: Purchase price $100,000 15% down $15,000Improvements $15,00020% down $3,000Your total loan amount is to not exceed $97,000.

Just PM me for details. 

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

My question is is it wise to keep the HELOC at prime plus .5 a point on initial down payment, and renovation costs estimated to be around $35,000?