The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

I bought some commercial properties (5, 6, and 11 units) and they were all off-market and seller-financed.Learn how to make the numbers work for you and the seller.

If I were you, then I would get the pieces ready, but seek off market/on market projects that make sense for you.

Particularly I am looking at some 6-plex and 8-plex units in my target market.

It insures all types of risks but does do a nice job with rentals in many markets

Every where you turn there are STRs going up on the market fully furnished because they couldn't pay the mortgage and bills with the rental income. 

However, I made the decision when interest rate was lower and there was support for an appreciating real estate market.

Very solid market, been investing there over 10 yrs and the rents continue to climb! 

As someone else mentioned, insurance here is generally less costly than in Florida and other beach markets. 

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!