I've been reading some recommended books and listening to many BP podcasts.

Pretty much standard windstorm insurance is about 5% so that would be about 20K. 

I read one book.

I suggest you decide what your final price is before you submit your first offer.Note: something I find odd but seems standard is the EXPECTATION that a renegotiation will happen after the inspection.

Hey @Charles Lewis Pinto - If you plan to invest out of state, you should start by reading David Greene's book on long distance real estate investing.

Also, Brandon's book on rental property investing and Ken McElroy's books are good multifamily reading material to check out.

Read some books, YouTube videos, read these forums. 

I have read @David Greene's book on Long Distance Real Estate Investing and it is a phenomenal read, but would appreciate anyone who has experience in this area providing some of their feedback as well.

I bought the Book on Rental Properties on Kindle and on the first page is a link for a free Audiobook of The Book on Rental Property Investing, 30+ Essential Landlord Forms (Lease, Application, and More), and the Poster: The Ultimate Guide to Tenant Screening. 

I also realized that the management company had been doing slightly sub standard work, and a lot of the "repairs" were not of the quality I would prefer.