Each of my properties provides me $2,000,000 in liability damage, plus loss of use Income, and the usual coverage for typical stuff.

If the property cash flows well enough to cover the lenders debt service coverage ratio, and you have adequate liquidity, you should be able to qualify.

Is it possible to get renter's insurance to have some coverage over the home in the case it's destroyed by fire, flood etc.

That may or may not help reduce the rate for the NFIP policies.If your current agent can't help you with coverage in FL then PM me and I will see if I can suggest companies that write in FL.

And he misses out on all the benefits of it being owner occupied, like tax exemption from capital gains because he doesnt actually own the property.I bet he isnt properly insured on the property either, because if he insured the property in the llcs namr, the lender would have been notified of the change in coverage.

It was only a general question, just to work out what amount coverage is worth having.Best wishes

Finally, from a lender's perspective, lowering the LTV percentage increases the DSCR (Debt-Service Coverage Ratio).Manage WellIf things get scary, do NOT stop implementing your preventive maintenance plan, as that can lead to a downward spiral.

Would it be possible to only get fire coverage for the house?

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

Tenant's insurance only provided $1,000 in coverage so tenant had to pay the rest.Tenants are at fault.