Additionally I spent $35,000 on property taxes, $17,000 on insurance, $35,000 maintenance and repairs.  

I am trying to get the best affordable quote for Landlord insurance.

In that case, you'll strongly want to consider what putting personal-use property inside of an otherwise business-use LLC would do to the liability shield, as well as insurance and tax reporting.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

I would greatly appreciate your input on this matter.Here is my setupPurchased property under a TrustLLC in FL owns the TrustHolding company LLC in WY owns LLC in FLI purchased the property sub-to, took over the seller's mortgage and I’m working on setting up insurance for the property.I understand I need to keep the seller as additionally insured in my insurance, but the seller no longer has "interest" (ownership) either in the Trust, nor any of the LLCs nor in the Deed nor Settlement Statement.

STR, MTR, it doesn't matter, you can't house people there and would be in a severe insurance liability if something were to happen in an unpermitted addition or renovation.If it was permitted, you would use Furnished Finder for MTR.

Quote from @Beau Guidry: I agree with all of the above and will add the exorbitant insurance costs are squeezing rental profits at the moment. 

@Nakul PatelBest asset protection is an insurance policy, you open a LLC then you are gonna have to pay like $850 a year for it if you are in California even if it’s a LLC in another state plus other fees and costs.

@DeAnna McKillop-LopezKeep it simple to start, unless you have more than $10M there is no need to do anything but by the property in your name and get insurance if the property is a single family rental.You can do all these other methods but they just cost you money every step along the way.

Zero tax state, no insurance or property tax issues like FL and TX. 

Hi BiggerPockets Family,I am looking to insure a triplex that I own in Philadelphia which is under my LLC.