Monthly Costs:HOA:  $150Taxes: $38Insurance:  $15 to $20 (HOA fee includes a blanket insurance policy).

If you'll be managing the property yourself, you don't need to do thisSet up a property insurance policy for this propertyReview the title search done by the escrow company.

I paid $88,000 for one property (20% down, 15 Year 4.125% fixed is $527 (Mortgage & Interest) + Impounds of $475 (Taxes & Insurance) + $ 129 Property Mgmt = Total $1,131. 

Most people would jump at the opportunity to rid themselves of debt.You are allowed to add monies above X on the payoff demand if that money was spend on things related to the X deed of trust...taxes, insurance, property maintenance. 

For sellers, we insure proper state and local disclosures are prepared and available before offers are made; market beyond MLS & online listings, like postcards, flyers, Open Houses, agent networking, etc.; schedule showings and analyze feedback; assist with and analyze offers to insure you are protected, (ex., avoiding those trying to tie it up to resell or not really qualified, clarify costs involved or strange terms in offer, etc.); guidance through inspections (as many sellers get emotional and lose sale during this process), coordinate required repairs, resale packages, comps for appraiser to help avoid appraisal issues,  pest and moisture reports, walk-through, etc.   

Do I need to purchase mortgage insurance for this property?

I just bought my 1st rental property last year and need some help with what costs to file for tax return.Turbo Tax asking to escrow fees for following categories:Abstract and recording feesLegal fees, title search, document preparationland surveytitle insurance transfer or stamp taxesexpenses you paid for the sellerThese are the expenses on the closing summary:Record deedrecord mortgage mortgage taxbank attorney feeHOA questionnaireflood certification feetitle examtitle insurance (mortgage)title insurance (owner)delivery chargelegal feesapplication feeappraisal feecredit report feewhich categories will the fees on the closing summary fall into?

As long as everything is transparent and in violation of his licensing or any laws, I don't really see an issue here.

As a rule those guys get paid to sell stocks and insurance. 

You can invest in anything that isn't life insurance or collectibles.