I hold title in the name of the 401K (with high liability insurance) until the place is sold, not in an LLC per se.

Then you have a mortgage of 1,037.85 (includes insurance).

In order to buy a property from the heirs of an estate using seller or carry back financing, as it may be called, there has to be a way to pass title, preferably insurable, marketable title voluntarily, in order to negotiate a purchase money note for any portion of the equity purchased.

That made me decide that I wanted to learn how to work non-performing notes to insure no matter what happened to the notes I owned, I'd be able to handle it even if I was wiped on a lien.

The last time I was there the only reason I didnt buy a property was because of the crazy insurance rates.

She told me a lot of neighbors on the street were able to get new roofs from the insurance so I will be in touch with them shortly :)

We also prefer our contractors have liability insurance.

Of that $500/m, $200 was the esgrow payment for taxes and insurance (I also purchased new insurance under my name with the sellers and their mortgage company as additional insured and that was put in place of the sellers insurance and paid through the mortgage with esgrow payments).

Lease to own: Lease for 2 years at $200 (cover insurance) and balloon at the end for $500 or so.

Annual operating expenses $12K, taxes $8500 and $1000 insurance.