When I worked with a property management company, we had someone buy a unit (single family) that had a STR and marketed it as a STR.

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets. 

This includes preparing the property for renters, pricing it right, marketing, application screening, collecting rent, dealing with unpaid rent and other lease violations, security deposit disposition, inspections, and so much more.

I have tried to get quotes for these properties and I haven't found a company that is willing to insure me because I have open claims.

Kyler, call your a couple of insurance companies and get a formal quote so you can take this back to the seller.  

I would like to start connecting with lenders, attorneys, realtors, title companies, and all other professional in the SATX commercial real estate market.  

I personally use a company called swift permits.

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

But the bank still treats it as a secured debt.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.