I agree about the sticker shock checking things out online but with the vast majority of properties here 100 years old, and most severely neglected, the maintenance and heating costs alone are absurd and almost every one will need a new roof, foundation work, lots of electrical work and more significant repairs that just make it a nightmare and the low prices not worth it in the long run (in my opinion and those I've talked with in the business up here). 

The deferred maintenance arent major items but they need to be taken care of....landscaping, replace some sod, paint the exterior, minor drywall repairs, replace a shower door...overall the house is solid.

That is 4 major wins in my eyes.I used to be stationed at Andrews AFB (Washington DC) and we would travel to Norfolk a lot.

Hard to find better tenants in my opinion.Living there for the time that I have, I know that it doesn't need any major repairs and he's even updated several areas as well. 

I'm looking for referrals for great:- property managers- handymen (non licensed preferred for cost reasons on the majority of small repairs... even more specifically for laminate flooring and painting)- property inspector / contractor- a local attorney would be nice to knowThanks so much Jim I really appreciate it!

So that is a major decision that I am pondering at the moment.  

., since there's nothing major that needs to be done (otherwise I would use contractors rather than the tenants)--and then sell it to a local investor for $85,000ish who wants cash flow but doesn't want to go out-of-state or just refinance and keep it as a cash-flowing rental and then use the money from the refinance (or the sale) to, depending on how the market's looking, collect additional cash-flowing properties in the Antelope Valley or simply sit on cash until we have another correction.  

I think the umbrella is a relative bargain (and as you note probably lower risk for insurer as the underlying coverage may handle many claims) for the price (I use  RLI, and maybe your solution is as simple as a lower cost provider)...In my very short time seeing inside of insurance defense, I would see the guys that worked for the major insurers (who fought claims on a daily basis) up their own policies, so that was enough for me..  

@Major RobertsonWelcome to the vibrant BP community.

@Bill Gulley  the gps chip and disabling the car for non payment is used for Poor credit risk folks I know major car dealers who do this..