Maintenance, Taxes, Insurance will never stay the same.

Maybe owner will sign deed back to your dad but make sure you get title insurance and know if any liens are outstanding.

Should tenants have renters insurance?

I am hoping to get some guidance on my current revenue/expense assumptions:Rent / Purchase Price -> 1.0% to 1.1% (model set-up for varying ranges)Vacancy Rate -> 0 to 10% (model set-up for varying ranges) Property Tax -> ~2.5% (looking at Tarrant County property site for reference)Insurance -> ~0.9% (based on my personal residence)Property Mgmt.

Is this type of loan ideal for this strategy?

Perhaps I'm making this more complex than necessary but given the potential tax burden I'm trying to evaluate all possibilities - especially since the house is in an ideal location for my spouse and I to live there for a couple years.

Make sure you add your entity name to your insurance policy

Also, on flood insurance, i'm finding quotes ranging from $600/yr to $1,500/yr but not clear how that works within the different flood zones and asset types. 

@Tanner Gregurich @Bob Rubenking @Chase Keller  Any recommendations for Insurance companies for Iowa rentals? 

Is the taxes and insurance escrowed?