Usually have an apprasal, inspection, and insurance that have to be paid ahead of time, often outside of closing.

Call your insurance agent and ask him what he would recommend as a ballpark coverage for the structure.

This time I scared the deadbeats into deediing it back, saving me $1200 or so in attorney fees, and got a $2000 insurance settlement check from them for some damage caused by "vandals"-probably their tenants as these guys were, unknown to me, trying to be landlords without having a clue what they were doing.Anyway I've been working on it for 3 weeks, on thier utilities and insurance and now have a contract for $100K.

Add in principle payments, taxes, insurance, association dues, vacancies, maintenantce, advertising, tenant screening, legal fees, evictions, tenant damage, etc., etc., and you're in the hole several hundred, maybe even close to a thousand a month on that one property.

I am having the toughest time finding someone to insure it.

In addition, as long as the investor has adequate insurance for liability protection, why would it surprise anyone that a CPA would suggest holding a property personally?

., price + rehab = 70% of ARV), they certainly won't make anywhere near $80K profit.Assume they get a hard money loan for the $140K and hold for six months.They pay purchase closing costs around $2500.They pay the $20K for rehab.They pay about 10% of the loan in money costs, $14KThey pay insurance, utilities, and whatever else in holding costs, $3K (try pricing a vacant house or builders risk policy.)

Get landlord insurance to cover yourself, but also leave the existing insurance in place.

She told our landlord she had to pay for emergency dental surgery and follow up care because she had no insurance.

But absolutely no money down would be a no, unless you talked the seller into paying all the closing costs also.Attorney fees; title check; title insurance; taxes; in my area the total closing costs usually run about 2%.