My agent tries to push business policies that cover liability, reconstruction as well as rent loss and coverage on anyone working at the property etc. 

Fahima,If you are not able to or chose not to move the coverage to an LLC I would recommend an Umbrella policy.  

The deal has good Debt Coverage at 1.62 and it will cash flow at 19k/year.The building is partially rented (2 units - 2 Bdrm and a Studio) with one 2-Bdrm ready to go.  

You address it in comment 13, but don't mention that all proceeds from this new supplemental or new debt is tax free. 7) When will I get paid?

Will supplement with a personal umbrella policy.

A valuable tenant is one that you do not have to  supplement their rent out of your own pocket.Changing/finding tenants is a easy job and one which landlords need to learn to do.

Just a real reminder why it's CRITICAL to make sure you have proper coverage and to review your policy at least once a year to make sure it's sufficient.

Hi all,Tell me if this is a good idea or not:There are multi-family properties I'm interested in buying, but I don't have enough cash to cover the down payment + fees without wiping out.I was thinking of taking out a ...

Typically, you have 4 years to supplement a claim in Florida.

Note: I think this is a really hot area which will continue to grow given the proximity to Brooklyn, which has exploded the last few years. 2) bought my new primary 1 family forclosure home for $325 in 2016 and house hacked it to get some supplemental income, which covers ~50% of my mortgage.