I could get a 1 ton unit (probably also big enough for a typical mobile home) for about $2800.So, in my area and with my contractors, his quote isn't off at all.

Also, cap rates are typically not applied to SFRs due to the impact of vacancy and collection on NOI as well as the cost of maintenance for a single occupant.

Just not my cup of tea with the way the law reads.

They list:Annual Rent 10,200HOA Fees 0 0County Taxes 839Management Fees 600Annual Insurance 450Annual Cash Flow 8,311Management fees are understated. 10% of collected rents is more typical, which would be $1020 a year.

Keep in mind that title insurance policy will only pay out a claim up to the dollar amount of the policy, typically that is the purchase price.

Lenders typically want to see 2-years of W2s.

Typically, the agent is just trying to systematically lower the price until someone makes an offer, then they'll submit all the info to the bank for approval.

Is this something that is 100% necessary and if it is, how much do they typically cost.

Rob, I agree with you in prime MSA's in California condo's are attractive as they represent a lower barrier of entry into ownership and typically allows for potential positive cash flow.

This is what typically occurs.