@Peter TverdovSo basically an insurance policy that figured it's not going to pay out to everyone, so as long as the total income is less than the total payout you make money

Be on the lookout for when VRBO automatically changes your cancellation policy to Flexible too. 

Had to do it thru the company directly, my agent couldn't write the policies.

look into government DP assistance programs. 

They can go through the most important parts to look out for with the insurance policies and since they go to court with them so often they can give you an idea of how claims turn out with the insurance providers.Feel free to message me directly, I can refer you my insurance adjuster if you would like.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

OP Lincoln is a great town since it is the state capitol, lots of government income, home of UNL, lots of medical etc.  

A landlord policy is what you are looking for.

Are there any local policies or regulations that could affect real estate investments in these neighborhoods?

After much back and forth with our attorney and their regulators, etc they decided series LLC’s should be a part of their customer base and have rewritten their policies to accept them (and us).