My understanding is the insurance requirement is only part of the company must be properly capitalized.

This can be caused if you don't have proper waterproofing on the foundation or if there is no sump for the water to drain. 

I'd have crashed the car if I actually started taking proper notes.

He really took the time to explain strategies and help me set the proper expectations. 

I’d say the best way to ensure you have a buyers agent that will represent your best interest would be by getting them via referral.

Ensuring she gets her money each and every month should be your highest and best priority, because none of this would have been possible without her assistance in the first place.Scenario 3: You have a terrible credit situation, a low-paying job, no savings. 

What you do need is to ensure that the money you borrowed goes into a separate account used for nothing but your rental business.

If it does change, what are the best practices, calculations/ number, and strategies to follow and ensure all debts are paid and the property properly cashflows? 

While you did not mention how many bedrooms or baths each unit is, so I cannot properly speak to the approximate rent, I am confident that it would not be near as high as 3500 a month.

From there you need to work on getting a good deal on the buy side and ensure you are getting lending terms.Hat 2: The Guest Hat.