Roof 25-30 years, a/c 15 years, kitchen appliances 5-10 years, flooring ???

Am I correct in assuming that another requirement is to have a certain amount of cash reserves saved up to cover any unexpected expenses?

FYI, no contractor is good at everything so use someone with a roofing background for roofing, and a framing background for framing. 

Rentometer covers a large area and I am guessing this property is sub-par for the area.  

You got to have all your social media covered. 

The roofer has done two roofs in the past month and a third this week.  

But high level:1) If the units rental income doesn't cover mortgage its not going into my buy/hold portfolio , I have a separate "appreciation" portfolio for that on (think San Francisco where CAP rates are 3-4 , but if you can wait out or turn low rent controlled tenants you can improve the building profile.) 2) I am currently looking for places in B- to A- areas.

Gut rehab for an SFR in northwest Indiana would be around that new plumbing, electric, hvac and roof.

You might have noticed that people that have been successful with rental units in  houses have to own about 20 or 30 of them just to cover their monthly bills, then they might get some of the profit when they own 30 or 40 all at different addresses.With apartment complexes you might just have one address where you have many units. 

Curious, under what basis is the insurance co. trying to put this on you.....the cause of the suit is not a covered action?