I would call there bluff.  

Also, call and get new quotes every single year.

I find in these instances it is best to start making calls to local companies, explain that what you are doing and ask them what they think on a "budget" number.

The two main options for doing so are called borrower paid single premium mortgage insurance and lender paid single premium. 

Now when we sell this subject property,  should we distribute proceeds to each partner of LLC and they handle their taxes themselves OR, should we first take the sale proceeds into the LLC which will call for capital gains tax and then distribute funds to all partners and then again they may have to pay taxes as their income for the year on the profits.What is the best approach in such scenario.

Good afternoon Bigger Pockets;A friend has come to me with some trouble regarding her house purchase under an FHA Loan, and I am new to these loans, so I thought I would throw it out there to see if anyone else has had a similar experience or can help.For the sake of this question lets call my friend (Kat) and the seller/elderly lady (Marg)She (Kat) is purchasing a home off an elderly woman (Marg) in Southern Florida.

Why not ask your neighbor and have theirs give you a call?

The ARV should be around $75K.I just called my bank to make sure I was not missing anything when it was time to do the refi.  

So buying without seeing the actual neighborhood would be a little bit concerning for me, but if you've got good people it shouldn't be an issue.This seems to be less of a concern when you get to the suburbs or whatever you want to call the areas outside of 465.

Call the police and report the theft.If you are able to take the tenant to court (small claims if under the limit in the jurisdiction) and obtain a judgement, then you can seek a garnishment of wages.