Time to rethink your risk tolerance?

Account Closed , there is no one right answer and it really depends on your risk tolerance, which depends on your financial situation.

it's all about your risk tolerance and overall goals. 

It all depends on your criteria and risk tolerance.  

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

I'm not sure if Indiana offers a non-NFIP insurance option or not but if they are like Ohio than NFIP is your only option... however not all agents understand how NFIP works or how to give you coverage options.If your main goal is checking the box for flood insurance at the lowest possible cost I would suggest asking the bank what is the least amount of coverage  and what is the maximum deductible they will accept - then get an agent to quote it that way.I'm NOT saying this is a good idea to insure your property this way - you really need to investigate the risk and talk with your agent on what your level of risk tolerance is.Many agents will try and quote it at the full reconstruction cost amount like it's an owner occupied property.

I have one place in a flood zone and it comes down to your risk tolerance. 

I now have a better idea of my level of tolerance for risk, i.e. addressing certain items vs. leaving as-is. 

I'm hoping this increases my risk tolerance and marketability to lenders.Any thoughts?  

As far as which tenants to target, that would be up to the individual investors goals and risk tolerance.