Then I realized I wasn't accounting for Property Taxes, needed to learn that, insurance, needed to learn that....and the even dreaded CAPEX, VACANCY, REPAIRS, PM dance we all love.All of those needed sliding percentages, so I can see to the top and bottom end FAST.I just have to reinforce what everyone is saying.

In the meantime, tell them your prospective buyer is an insurance agent or whatever.

No reason to worry about title as they will provide a title commitment and convey the property with title insurance.

I'm not an insurance expert or a lawyer, but I would imagine the homeowner insurance policies of the current owners would cover a tree falling. 

You’ll also want additional coverage in addition to your standard E&O insurance to CYA if something goes wrong when you mix business with pleasure.

If you do not have enough of a deposit required, you could be provided a 2nd note of that amount and has a shorter pay-back period like 5 or 10 yearsThe other options included but limited to Seller Financing,  Hard Money lending, formation of a Partnership, or a FHA insured loan through a national Bank, or a local Bank. 

Taxes are $3,100, insurance $900.

@John Hyre,In a nutshell, a modified gross lease is where the tenant pass our management company the the base monthly rent and their pro rata portion of taxes and insurance and the money is then passed to the LP that we hold.

If you are still negotiating with the seller, see if they are willing to file a roof insurance claim.

I added it on to the monthly insurance but now I know where this particular expense goes in future reports.