If they are asking for that, it's because YTD income isn't lining up with last year once annualized.

I recently purchased a 4 unit and insurance is $845 annually ( I already have a GL policy so just added it to).

So now I have a $2000 annual subscription to a big nothing ball.Pros:1) You cannot lose a lead so far as we can tell.

@Scott Wolf I'm looking for problems before making an offer on a property. 

The annual inspection is also easy and the landlord can be present - the tenant's care of the property is also looked at.

What is your annual income?

Here is the data:Approximately $200,000 to do the deal$190,000 purchase priceLoan 75%LTV $142,500, 25 year at 5% ($9996 PI annually)Partner Cash $35,000 for @40% equity (family) :)My Cash $21,840 @60% equityAnnual Rents $30,660Vacancy 5%Taxes $2070Insurance $1812Prop Manage 7.9%Snow/Lawn $75NOI: $20,000 approximatelyRepair costs are minimum as most are newly remodeled $500Acquisition costs . $2000Reserve account $7500The property is in a small town in Iowa near a decent sized college town. 

Background: 22 Years Old, Single- No Kids$30K Annually - Government Employee (Love my Job) Debt = Car Loan totals $6,600K and 2 School Loans that also equal up to $6,000KI'm on track to pay off my car loan on May 17th and be debt free on September 20th as I have been successful in keeping my full time job's pay untouched since mid-January.

Putting the money in VTSAX, maxing out annual contributions, and letting it ride for the next 20 years.

Underwriters assume that "repair" items are annual/recurring (DTI hit), and depreciated capital improvements are one-time in nature (no DTI hit).