To save money, management raised the wind and hail insurance deductible from 5 to 10 percent.

The reason you get the low down payment and the low interest rates are because you're personally guaranteeing the loan based on your stable income. 

OR are you doing quiet title because title company wont insure without it ?

For Guarantee I think in the way David your thinking about Guarantee the only one out there is FDIC insured deposits with the full faith and credit of the US Gov. 

This is important because right now we could probably make around $200 profit after all mortgage payments, insurance, etc.

If it was your debt, its probably your's to pay off.Title insurance has two variants. 

It comes down to having good insurance for protection. 

In an effort to bring ANY $ in to help cover the mortgage ($4600 including taxes and insurance), I put together an AirBnB site for the property and set it live, with zero expectation.

Insurance Proceeds and Taxability: The insurance payout you receive is not "free money."

Here’s a quick checklist to cover your bases:Property Condition: Get a thorough inspection to assess major items like the roof, foundation, and HVAC—this helps you plan for any big repairs.Financials: Account for all costs, including taxes, insurance, maintenance, and property management fees if applicable.