Taxes and insurances go up each year and you have to stay ahead of it.

I’ve noticed that on Commercial MLS listings that Taxes and Insurance are not included in the expenses NOR their Cap rate listed on the MLS.

.$66K....cashflows $1100/mo....net cash flow after all expenses (taxes, insurance, property management, lawn service) is $686/mo.

The “cost of the water” if someone floods their unit is miniscule.....compared to the costs to repair that/other affected units.....which is why you have proper insurance.

Maybe, maybe not. the Title insurer likely has subrogation rights, meaning they have the right to sue the responsible parties since they paid you off.

If you don't have a clear contact and the person doesn't have adequate insurance, that could end up becoming the landlord's problem. 

Ask an insurance agent if they will provide insurance on a sinkhole property and how much it will cost.

It's great if you can do it yourself but we have 3 young boys and time is always at a premium.Hire a great PM, have a consultation with a RE/eviction attorney so you know who you can engage it dire times and also get rent default insurance that can reimburse your lost rent and legal expenses should there be a default. 

The list I came up with is : Insurance, Title, Signed note and Mortgage.Are there any other documents crucial to save besides the origination documents which the MLO would have to save up to 3 years I believe.

. yes, If you purchased title insurance, it should cover the back taxes.