Do you get a Landlord Insurance Policy IN PLACE OF a Homeowner's Policy, or do you get both?

Or would it just be the monthly mortgage amount included taxes and insurance?

Until you have quieted title, you will probably not be able to get title insurance, either, because of the possibility of outstanding judicial redemption rights even after the tax deed date. 

Here is how I see the deal.Asking Price- 600,000# of units- 13 Gross Operating Income- 71,820less Taxes- 3087 Insurance- 2310Repairs- 6875 (added 25% to estimated price, )Utilities(common area)- 400Misc(pest, snow,landscaping)-2300Net Operating Income 56,848lessMortgage Payments 46,800Cash Flow 10,048Now I will not be offering $600,000 but really wanted to check with some of you experts to make sure I'm not forgetting anything.

I'm a little unclear on the actual process of having the interest in these notes assigned.I know it involves an basic assignment of note, having the named-insured on the insurance policy changed, and notifying the borrower of the change.

I'm in TX where the tax and insurance are crazy high, and I doubt if mine have exceeded that.Selling costs.

OK, lets be generous and assume your expenses, including vacancies, insurance, taxes, and all the other stuff mentioned in other threads is only 33%.

My background has been with accounting, management, finance/insurance and sales in the automobile and motorsports industry.

I am scheduled to close in about a week on a short sale with bank approval on both the first and second. ( both are through the same bank) But now I am being told that the mortgage insurance company for the 2nd loan is saying that they never approved this.

I don’t know much at all about insurance for investment properties.