Correction: FDIChttp://www.fdic.gov/bank/individual/failed/silverstate.html On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

The "calls in the night" I always got in the insurance business were leak related and invariably they were emergencies because water was going into living space.

* Many houses do not cash flow (7% APR fixed payment + Insurance + Taxes + HOA vs monthly market rent).

I do plan on using an attorney though but it will just be to do the title search as i will be purchasing title insurance to go along with it.

Today, on Yahoo, it was announced that the Gov't would bail out both Freddie and Fanny, as well as insure the loans that they currently have opened.

Real Estate Taxes $25,732.00 Insurance $3,928 Water & Sewer $19,812.00 Electric $1,000 Trash $3,000 Snow $270 Right off the bat, I'm wondering where are the expenses for maintenance and management, and I'm sure there are other expenses I've overlooked that need to be included also.

I hate mortgage insurance, so usually it is atleast 20%.

If you have a tenant and the taxes and insurance are the only expense, it might be only 10-15%.

And if it passes, run a full stack with pessimistic rental amounts and true expense estimates (to include real tax and insurance numbers).Having said that, this look pretty good to me.

If you are at a bank it is insured by FDIC.