Save money for a down payment and find a solid cash flowing property that will cover expenses in lean times and pad your wallet in good times.  

A cost of mistake on a project of that size would easily cover the costs of hiring someone that is experienced. 

I said that I wouldn't do this deal if I weren't covered as far as either his mistakes, market timing, other myriad things that could go wrong; he seemed to think this could be overcome.Is he crazy to say this can be overcome to protect me?

I have never had a tenant stay for only one year (maybe I'm lucky), so I reserve 8.3% for the first 18 months, which covers both the 1 month of vacancy, and the placement fee.

She also told us that our insurance carrier would not cover that dog. 

I am self-employed, so I was hoping to get a No Income Verification style loan (at least that's what it was called last time), where they look at your bank statements to make sure you have enough coming in to cover the mortgage, taxes, insurance, etc..Basic stat's are as follows:-Income roughly $5,300/mth in deposits (minimum)-No car loans-Current townhouse has been paid off for a few years-Have a couple commercial properties (one in my personal name ($300k ARV) - just purchased in June 2018, the other one ($300k ARV) owned in a corporate name for 3 years).

Feel free to let me know if there is a better venue for this inquiry.I was trying to enter an investment into my BP Profile, but ran into several issues....(1) sometimes I couldn't get to the [Save] button (it was below my screen and the scroll bar would not let me scroll down that far, (2) when I finally figured a way to see the [Save] button, it wouldn't Save.

I am worried it may still be difficult just because a lot of the possible properties around my area (central Ohio) seem to be more in the $200,000 range worried my price point of about $400 per month for rent may not be enough to cover the mortage and other expenses wondering what everyone thinks about this.

According to this website, Citi cards are the best for extending the warranty: https://thepointsguy.com/guide/best-cards-for-extended-warranty/.I read the exclusions on the benefits/disclosures brochure associated with this card, and the only thing I saw that wasn't covered similar to what you're referring to was "Items purchased for resale, professional or commercial use." 

Income Evaluation No of Units Unit Rate Income       2 Bedroom Unit A 1                 650.00                                    650.00           2 Bedroom Unit A 1                 650.00                                    650.00 2 Bedroom Units A 1                 650.00                                    650.00 2 Bedroom Units B 1                 650.00                                    650.00 2 Bedroom Units 1                          -                                               -   3 Bedroom Units B 0                          -                                               -   Garage Units 0                          -                                               -                  -   Storage Units 0                          -                                               -   Laundry Units 0                          -                                               -   Comm Units 0                          -                                               -   Comm Units 0                          -                                               -   Comm Units 0                          -                                               -   Total Monthly Income 5                                    2,600.00 Total Annual Gross                              31,200.00 Total Annual Cost / EBIDTA                                9,911.86 Net Cash Flow (Annual)                              21,288.14 Net ROI 42.39% Monthly Cost of Operation By Landlord By Tenent Monthly Annually Monthly Taxes x                                       137.50             1,650.00   (From Historical Data) Montly Space Rent (MHP)                                                -                            -   N/A Monthly Insurance x                                       100.00             1,200.00 Calc'd Monthly HOA                                                -                            -   Posted Monthly Water/Sewer   X                                       320.00             3,840.00 Estimated Monthly Garbage X                                       160.00             1,920.00 Estimated Monthly Electrical X                                                -                            -   Tennant Monthly Heat/Gaas   X                                                -                            -   Tennant Monthly Other Utes x                                                -                            -   N/A Monthly Yard Maint x                                         20.00                 240.00 Estimated Monthly Maint - Op Ex x                                       260.00             3,120.00 Calc'd - 10% Cap Ex x                                       260.00             3,120.00 Calc'd - 10% Monthly Vacancy x                                       182.00             2,184.00 Calc'd - 7% Screening/Tennant Management x                                         20.00                 240.00 Estimated Monthly Management x                                                -                            -   At Risk - Self Manage MONTHLY OP EXP                                   1,459.50 Total Annual Expenses                                 17,514.00 Total annual Debt Service                                   8,452.36 Net Operating Income NOI                                 13,686.00   Net Income                                       5,233.64 ROI % 10.42% Low/Average CAP Rate (Net Income/Purchase) 2.92% Extremely Low  Cash Flow per Door                                       109.03 Very Low  Tax Assessment  Estimated Expenses - 50% Rule                                       159.50 Conservative Banked Amount - CAP Ex, Repairs, Vacancy                                   8,424.00