Any originator of a secondary market loan stands the risk of having to repurchase a bad loan, while they are insured the originator is not totally covered and they may see more of a reserve requirement to cover any loss, the originator may feel more comfortable at 90% where insurance coverage may be increased.

I know some of the more obvious ones such as mortgage, insurance, taxes, advertising, and repairs/maintenance but what other expenses might a new investor not be expecting?

Did this loan person call the upfront fee a deposit, due diligence fee, insurance payment, etc.??

taxes, insurance and mortage $186 per month

Just starting out I would keep them in my personal name and get a good liability insurance policy to protect yourself.

If I assume 1 month vacancy, 1 month rent for maintenance/CAPEX, actual taxes and insurance, and 12% PM, it's a 12% cash on cash.

The paper work will be done next Tuesday, my question is what can I do to insure I will get my fee?

Keep in mind you still have taxes, insurance and repairs even on properties not currently rented.

Duncan , my mortgage taxes and insurance for the property add up to 675 a month, I am receiving 750 in rent each month for that property

obviously that strategy was hugely flawed... so nawadays, we like to have @ least $300 monthly cashflow after debt servicing, taxes, insurance, and home warranty.