Looking at a fixed 30year rate of about 4.5%-4.75%. and monthly payments of ~$900 without taxes and insurance.

Take away buying costs of 5pct plus title insurance etc (about 6-7k)Take away holding costs of 3kTake away selling costs of 11kTake away minimum profit of 15kMax offer 93kProperty is in a great neighborhood and LOOKS like its a paint/carpet rehab from the pics However, roof is 20 years old, ac condenser is 20 years old.  

@Charlie MacPherson Thank you for your input and for the resources, I never knew that it would fall under insurance fraud.

My question is can I get landlord insurance for a property I don't own or would I have to get the seller to carry the insurance?

I can understand why insurance agents, RE agents, wholesalers and loan officers send me colleague requests (in hopes of getting business), but even then - even if they do send me a message they'll pretty much never follow-up later on. 

So here is a summary:ROI:If you finance with 20% down At 20% Down Payment =$340,000 Debt Payment =$81,600 ROE/ROI = 40% =$132,400The DSCR(Debt Service Coverage Ratio) is x 2.62.

The HOA is over a quarter of my rent, so it just doesn’t make sense for long term.Another factor is that the area I have rentals is in Brevard, most within two miles of the beach, so insurance has been an issue.

Partial doc lenders are private lenders, not freddie/fannie insured so the rates are higher, but they're willing to work with self-employed individuals more readily. 

Call your insurance company and disaster recovery companies. 

The building for sale is exactly like mine so I’m familiar with many of the standard cost (insurance, taxes, hoa, general repair cost).The seller list in his remarks that it has a 9.2% cap a couple different times.First off, the auto generated cap rate from the MLS doesn’t even list that, it lists 7.64 based off the numbers entered into the listing.As far as the numbers entered:The income ($33,060) minus expenses ($8,965) does not even equal the posted $21,000 NOI.