There is also split premium PMI, where you pay perhaps 1.25% of the loan amount upfront as a one-time insurance premium, and your monthly PMI is reduced by 3/4 for the life of the loan -- that DTI with the reduced PMI is used for qualifying purposes.

He has done a ton of work in San Antonio, with his latest news coverage being around his Risingbarn.com project of tiny homes for affordable housing.

Many would say get good insurance, not an LLC, and call it a day. 

@Demario Scott If you are/have been in the military it makes more sense to use VA on a multifamily over conventional or FHA. 0% down payment and no mortgage insurance on up to 4 units.

I', thinking PITI of $850-$950, insurance of $50, water $50, taxes $2,250, property management $100-150.

It's good insurance.  

For instance some things to look out for are kick out clauses giving them the right to end the lease if sales don’t surpass or average a certain amount after a given length of time, stops on CAM increases, real estate taxes or insurance.

I'm assuming they'll need to have their own renters insurance because my homeowners insurance won't cover their belongings.3) I don't close on the property until the end of June.

After speaking with a CPA I actually ended up buying a life insurance policy with it that will pay me a pretty decent annuity once I retire.

You should be able to cut that insurance cost.