They are responsible if anything gets re-infested if they do the work wo they insure themselves by charging high rates 2.

Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates

All should be answered before anyone can possibly give you any useful advise.Here is the Formula I use to find my Maximum Offer Amount.Example:say the ARV is $100kRepairs are $20K40% for closing, holding, taxes, insurance, etc and profit (depending on your market this could be 30% or 35%)I use 40% to make sure I have a very good assignment deal any investor would want.The most I would offer would be $40K, But I would start at $25Kor$100K ARV-$20K Repairs-$40K 40% Profit and costs =$40K Maximum Amount I Can PayThe Numbers are what will tell you where you need to be on price NOT what you have to spend.Again, this is just an example you will need to input your own numbers to get YOUR Maximum Amount you should pay.Hope this helps

It is currently paying 5.5% AFTER insurance cost, and carries 500K on myself.

Management $1100, Taxes $1245 and Insurance $1000.

My mortgage with tax and insurance is $1400 and I rented it out for $3000 per month.

You will need to pay for insurance (and I would want the utilities on)during that time.

., my RE agent who performs a lot of my upfront due diligence on potential acquisitions and also is teh agent who lists the properties for re-sale on the exit, my escrow company, my title company, my attorney, my project manager (in this case - he is my Brother), and my insurance agent.

[email protected]% down = $4,025 down@1400 rent/monthtaxes = 2350 (previous year at 55k SEV)insurance ~800?

The insurance companies already have the records in the CLUE system Carlos mentions.