Total current rent minus vacancy minus pm fee minus taxes minus insurance minus rent ready cost minus 10% opps.

Better yet, just pay a bit extra up front and get tailored, advice from a trained, insured, professional. 

The chances of you removing the mortgage insurance, either as MIP or PMI are slim to none this early in your loan.

Looking for advise on insurance(s), bookkeeping best practices, and overall first time landlord tips!

Going beyond four loans, the bank will want to see cash in reserve to cover 6 months worth of mortgage payments, insurance and taxes for ALL of your properties before giving the next loan.

I want 20% for profit so divide 88%/1.2 to get 73.33%.I assume a possible 6 month buy, fix, and sell time and so estimate property taxes, insurance, and utilities for the period.

Title Insurance is very very important.

If there are any notices concerning the mortgage (insurance, escrow, etc.) you need to be authorized to receive those items.

Here's the details:Purchase Price: $62,000Closing costs: approx $3,000Monthly Rent ($725, unit 3&4 currently rented)Unit 1- 600 (2br) -newer cabinets and carpetUnit 2- 450 (1br) -newer cabinets and carpetUnit 3- 350 (studio)Unit 4- 375 (1br)Monthly Expenses- ($488, not including management or maintenance)Insurance- 83tax-138 water- 47 (total house-city won't provide separate meters) trash-18 gas-50 (owner pays gas for unit 3 and 4, 1 water heater for both units) electricity- unknown sewer-26 unknown (estimate based on local rates - 26)Maintenance ???

But again once you pay a $240+K mortgage and now like $360/month in taxes and insurance (Which I didn't say in the condo example since your HO6 would cost roughly the same as his renters insurance) you are again at around what market rent is.