Ineligible Risk Rating from Insurance Companies

[Yao Thompson]

I am in the process of purchasing a rental property and my insurance broker came back and said that multiple insurance carriers denied the application because the property is classified as an "Ineligible Risk" we were told that their is 1 Insurance carrier that will insure but this will require a pre-insurance inspection. Has this type of situation occurred with any one else if so what advice do you have; should this be a deterrent from closing on this property or does it give me more room for negotiation in purchase price?