(Plus I wanted the $1300 a month income from Section 8) My mortage with taxes and insurance is $797...Well, she has been there 10 days now, and there is trash all over the yard, bags and boxes on the deck outside.

My partner and I have buying foreclosure for the last 18 months and am curious to how everyone approaches insuring these properties.

All 4 of my properties are currently positive cash flow… from $100 to $250 a month per property after mortgage, taxes and insurance.

My back ground is in Title Insurance but I have been lucky enough to escape that trap some years ago.

Insurance, advertising, tenant screening, legal fees, maintenance, evictions, the list goes on.If the net taxable income is negative (entirely possible with the depreciation) you may be able to deduct this against your ordinary income.

You'll pay more in utilities, insurance and interest payments than you expect.

If so how should the LLC be structured to give you the best protection and, what kind of insurance should you get to also protect you.

I will find out more about taxes and insurance tomorrow. i would guess about $100 a month.

Do you think it is a more statistical thing like the Insurance Industry where they have proven numbers... etc?

My first thought was this was an insurance question.