Quote from @Jamie Lynge: I am a Medicare insurance agent living in NW Arkansas.

if it burns down, I will have insurance.  

If they settled out of court, why didn't insurance pay everything? 

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120. 

Or if my landlord homeowners insurance policy will cover this?

Adding to this - any insurance agents here who can take the time to walk me through options rather than just send me a quote then harass me to sign pls message me :) 

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

In addition, it had a full gut with all-new plumbing, electricity, HVAC, etc... the renovation cost 250K+All projects were done remotely with a back-and-forth arrival to the states.

1) Rarely paying asking price or even "market price" for a property.2) Understanding how they may be able to reposition a poorly managed property for increased cashflow and value.3) Looking for creative financing, so they don't have to deal with a bank for a purchase loan.4) Understanding ROI, Cash-on-Cash, NOI, etc. and using those numbers to determine HOW MUCH they should offer on a property to meet their taget performance numbers.Funny, appropriate, recent interaction with a plumbing company.

Do you have flood insurance?