I then have a set amount that I put aside for taxes and insurance.

I'll do a quick calculation to see if the property is going to be worth going to look at using estimates for rehab.Calculation:Rental rateminustaxes: this will be on crsdata Ins: I usually calculate $1000-1100 for the yearMisc: 10% of rental incomeProperty manager: 1/2 1st months rent plus 10% of the next 11 months usually comes out to 12%Exp:Rental income: $750(property management: $100)(Taxes estim $900/12: $75)(Insurance: 1100/12: 91.66)This is variable it could be lower(misc repairs in future: $75)= $408.34 per month profit or $4900 a yearThis is a great profit if you get a house rent ready under $20K.Thats a 24.5% Cap rate.

Why can;t you insure it?

After taxes and insurance I will need to calculate my NOI.

Your willingness to sell part or all and under what terms, with recourse will get you a higher price.Also, is the business or property listed for sale currently or in the past year, if so the asking price.The above will probably get you a bid subject to due diligenceRE Tax statement and proof of insurance and premiumsBorrower's financial statementCopy of the sale contract Copy of corporate authorizations if the note is in a company nameIf the note is in a business name, the filings on teh entity, copy of filed by laws/operating agreement, partners originally and prior to settlement a certificate of good standingAuthorizations for credit repots to be pulled on principals (this can be an old authorization, a new one is not necessary).Name, address and phone of the settlement agent, attorney, and listing broker if any.

The insurance had no problems with it and I live in Florida where insurance companies inspect the roofs.

Check the deed and trace it back deed to prior deed until you get to a point where the last person likely purchased the property for a price that indicated he likely got title insurance.

Why not insure the house yourself and also require renters to purchase renters insurance.

I know pension funds, hedge funds, insurance companies, etc invest in this, but I was surprised to hear that individuals can do this as well.

Does the city have access to withholding on your insurance claim?