It is also in a flood plain with transferrable insurance rates of $450 annually.

As an insurance agent and a landlord I am curious to see if any of my fellow landlords require their tenants to carry insurance as part of their lease agreement. 

For mortgages or auto loans, you have 2-4 weeks of getting your score pulled as much as you want and it will only count as one.  

The basic information is below and comes from owner-supplied rent roll and 2017 figures:Listed Price: $339,000Gross Rent: $47,520 ($495/month per unit)Taxes: $1,506Trash: $666Utilities: $6,406Cable: $1,982Maintenance/Repair: $4,673Insurance was not listed in the numbers given, so I estimated insurance to be around $1,617 based on 0.003% of property value plus $75 per door.

You may want to keep his insurance policy and add yourself as “additional interest” or “additional insured”2) The bank could fall the loan due.

For asset protection, consider a Landlord's Insurance Policy with some liability protection ($300,000 or $500,000) and an Umbrella policy that tops out at 1 or 2 million dollars.

Wells Fargo got a forced place insurance on the property that would insure their interest.

A lender's title policy and also hazard insurance naming you as the mortgagee is mandatory.

Insurance ChoicesWhat things are important to you when choosing between two policies.

Basically, I want to know how to best ensure that the mortgage (and insurance) payments are made in timely manner and that the seller doesn't use these checks for some other purpose.