Meet with your potential team members there ( property manager, contractors, maybe insurance agent and mortgage broker). 

I wasn’t aware of those insurance issues.

I'm going to go contact homeowners who have a Notice of Sale, but I noticed that some of them have their Notice of Sale postponed due to "Bankruptcy". 

Are there any types of grants or financial aid to new investor/homeowners?

Hey BP,Looking for Kalamazoo area investors input -What is the best insurance company in the area?  

Preferably, go for $1 million+ purchase price because you can get better agency financing.There would a lot of work to do finding the deal, performing due diligence, lining up insurance and various inspectors and contractors.

My original budget for insurance, utilities, rehab, holding all came out to $10,000.

Also I presume your construction business has all the proper licenses and insurance in place but if not, you will want to take care of all that as well.If you need names of any CPAs or attorneys in San Diego or Southern CA, let me know. 

It could have somewhat of a factor when getting insurance.

Taking into account taxes, insurance, vacancy, maintenance the profit is $316.