Also few of my investor friends mentioned that Insurance liability does include what they exclude from liability standpoint certain times if a contractor (who possibly may not have workers compensation or insurance if injured) then insurance will not cover that liability.

As a landlord, you will need to sign a liability release. 

It’s a liability that will hold you back.

Is the Property & Liability (Package or BOP) coverage being cancelled or just the Flood2. what were the dates, type of damage, and amounts paid on the claims3. what has been done to mitigate the chance of this happening again4.

Your post comes off as someone who made a very unsophisticated deal to try to make a tiny spread and wound up incurring costs and liabilities they didn't anticipate.

Also, I am leaning towards having separate LLCs for each one for better liability protection.

Most flips that are vacant will require general liability and builder's risk and/or vandalism.

It is a critical and fundamental business skill that can help you identify potential risks, liabilities, issues with regulatory compliance, and opportunities associated with your transactions.

I just turned 55 and know I'm eligible to take advantage of the Rule of 55 but also know that will only get me so far relative to the tax liability.

In some cases, Texas Tenant/Landlord Law may legally allow tenants, or even the landlord, to break a lease early without penalties.The following are the instances when tenant may be able to legally move out from the property without any liability or landlord may legally remove tenant from the property: The lease agreement specifies early termination clauseSince a lease is a contract, both parties may negotiate on the terms and conditions that allow a tenant to terminate their lease early.