@Kevin KellyMost Lenders will want to see at least a 1.25 Debt Coverage Ratio.

Depending on what coverage the HOA provides in your condo docs, you could probably adjust the maintenance and capex numbers to 5% each.

His SD will cover Oct rent (and damages) and partial coverage for Nov if I don't have a new renter.I have to do a SD accounting within 21 days. 

The insurance will vary based on whether you need a Builders Risk policy and vacancy coverage (which you typically need). 

We added that we can review and submit changes just in case we find better insurance elsewhere or identify a gap or over coverage.

There is no real value to having a LLC, unless you have employees, and really not necessary with adequate insurance coverage.

I've been told that umbrella insurance might be a better option, simpler, cheaper, while providing adequate coverage for most individual situations.Any thoughts? 

Besides, know all the numbers of such property, these are (see the Capital Letters to familiarize with RE acronyms)our Debt-Coverage-Ratio, the Annual-Debt-Constant and the Loan-to-Value to come up with the Net-Operating-Income. these numbers will let you know how to make an offer and how to approach a lender and it is imperative you have them correctly.You know why you want to be in Real Estate Investing right?

At this point, looking for anyone to give me coverage.  

At this point, looking for anyone to give me coverage.