Your premium will drop in half or more. 

They make money by taking premiums and then challenging claims and partial payments.

I would not be able to put in the time to research deals, and do all the ins and outs of real estate investing that make it a second job, however I am more than happy to pay a premium to have this done for me.I still want to focus on investing in properties in CT, mostly New Haven, Bridgeport, Milford, West Haven, and surrounding areas.

My current policy has a rough annual premium of $1200 or so and Foremost just told me that based on their cost estimating software, my $69k property would cost $512,000 to rebuild if the replacement policy were to kick in...and my annual premium would go from $1200 to $4,348!  

I signed up for Whitepages Premium which gave me 2 mobile numbers.

FHA has higher fees, an upfront Mortgage Insurance Premium of 1.75% of the balance (rolled into the loan) and .85% MI.  

You will need to be on your toes at all timesYou will run into set backs (often)You will need to evict peopleYou will need to throw families onto the streetYou will make children homelessYou will have your house damagedYou will need to hire a team of highly skilled people to be your eyes and ears on the groundYou will pay a premium for services provided on your real estate portfolioYou will be harshly judged by those outside of the industryYou will need to make decision based on the best interest of your business and not your feelingsWorks out great for some.

This one is in an expensive, prime location that demands a premium and likely probably has a high ARV as well.

They might require additional premium in order to insure over these issues (which the seller should pay, imo) or they may say "No" and either you would need to agree to accept the risk or the seller would need to fix the problems... because they essentially built over someone else's property -- 3 times!

Some single families in need of some repair, combined with the premium rents for SF's ( especially if you allow dogs) might be an interesting alternative.