My recollection is (and insurance experts on BP can correct me if my memory is wrong), but most insurers will only pay "replacement cost"  policy limits, if you actually replace the damaged property.

.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

Even with guaranteed rent, it's important to thoroughly vet applicants.

Some may have very small thresholds for repair holdbacks on purchases but this is typically limited to make ready items not to exceed $2,500 in costs to cure.

Full disclosure, I only deal in LTR at the moment, but I know when I am not getting the quality applicants or volume that I want, I will lower the price by $50 to $100 per week to spur more applications. 

Is the portal a downloaded application or is it a web portal?

Finding them online and completing an application so they can atleast do an initial underwriting will work.here is min. someone will want to see:2.

Quote from @Sam Evrard: How do you go about finding areas to invest in with limited capital? 

For each property listed through a Section 8 website, over 100 requests for application are received within the first couple of hours.

I would need to learn more about my options though as my experience is limited to podcasts and a few articles on that subject.