Questions about Insuring My Properties

[Kaybreh Mathis]

Hello! My husband and I are just jumping into real estate. We are set to close soon on two properties with 17 units between them. We were unable to purchase them under a LLC, so they will be in our names. I've gotten several quotes for insurance but I'm not sure what kind of coverage is necessary. Should we go with a lower aggregate to save on the premium and then take out an umbrella on ourselves? What amounts of coverage are recommended by people who are more experienced at this? Also, we know from the inspection that one unit is likely a health code violation due to the tenant's living conditions. We will have to evict them, clean, and remodel. Is that something that would be covered by loss of rent or must it be strictly an occurrence like flood or fire? Thank you!