I would like to get information on qualifications for FHA or other low down payment options.

@Sundri KhalsaMay investors find it more difficult to cash-flow with a condo because they may potentially have high monthly fees.In general it is hard to cash-flow in areas of close proximity to NYC.However, I find it hard to believe that a Condo is selling for as low as $270,000 in Jersey City.It is in the west-outskirts of Jersey city towards Journal Square?

Now if I was paying more for the property I wouldn't think twice about a title insurance policy but paying 40% of the purchase price for it...idk about that.I do care about having marketable title @David Krulac and to the best of my ability I would like to make sure that I will but as I just explained it seems like a high price to pay for such a low purchase price...not a whole lot at stake here.

That is usually a part time job and they give you low or free rent.

You are paying a very high premium to purchase perceived cash flow and have actually turned the property into a liability as opposed to a asset.Your property with rent at $1000/month is far too low for a property valued at $150K and is already negative cash flow when accounting for the artificial cash flow that you are buying with your own cash/equity.

Again, these all cost me closing costs and my conventional are at crazy low rates so I hate to lose those.  

It seems better to just have it in the price if you are going to be that low, so you can advertise no cleaning fee.

As much as possible we want to make it looks good, and hopefully low maintenance and reasonable priced.Thanks for your help!

So I feel like the risk is low.

There might be some very low-cost options to look at (small claims court, for example).