I have come slightly close to getting out all of my initial investment in the short term but I have not gotten out all of my investment (purchase + rehab) out due to 1) typically we do not get 80% LTV (we typically get 70% LTV) 2) the refi appraisals come in below market value (common issue in san Diego).Therefore I have yet to achieve the infinite return in the short term. 

The monthly savings typically outweigh the additional insurance cost.

The documentation that my lenders require are typically tax returns (last 2 years), rent roll of all properties, personal financial statement, and leases on the subject property. 

@Jessica Muto When we buy properties, they typically need a lot of work in order to get them for under market value.

Take for example the following:Rental Property that is for sale near where I live:$80,000 property that doesn't need any repairs (essentially turn-key that I will self-manage) - $900 rent $16,000 down with $2,000 closing costs - Total All-In: $18,000Assuming 5% vacancy, $1,000 in taxes, $800 for insurance, 5% for maintenance, and a buffer of $200 a month, I would cash flow roughly $3,300 a year.https://www.calculator.net/rental-property-calcula...I've been around this forum to know that people will say things like 'well your vacancy/taxes/capex is way too low.'

Renovated the park thats about 3 blocks away, and a new shopping plaza is under construction about 4 blocks away is near 3 major freeways and the houses around are all typically rising to the 500,000 plus price range.

@Javier Arbelaez What you are describing is a typical C class property.

In my area 15% and 3 points is typical.

Typically, coastal california RE that is any kind of a deal goes pretty fast. 

But that's not essential.