Property not worth Rebuild cost

[JonPaul Kessinger]

I am looking to purchase a large home in my small community. Most insurance companies are wanting to insure it at a minimum of 80% of the rebuild cost. The home is only worth 150k once fixed up but would cost close to 450k to rebuild. Do you guys have any advice on trying to insure it at 150k? If it was to burn down and be a total loss I would not build on the lot and deploy the payout into another property. Any suggestions where I could find Landlord insurance that would allow me to insure it for the 150K? Side not I am buying the property for 55K from a pocket listing.