There are a few Homeowners policies that can be changed to a fully rented situation by endorsement but they are few and far between. 

Transfer to your LLC does break the chain of title and MAY effectively leave the property without title insurance.If you are transferring to your LLC, then have your attorney endorse your title insurance to add the LLC as an additional insured.

While I appreciate that you've taken the time to endorse the classes that you've taken, perhaps you can share some more with all of us?

Seems kind of strange to come on and endorse someone's course on your first post.

(Most likely he knows that and should appreciate your honesty in disclosing that fact).Now, you option agreement will be assignable, it was made in your name and on the signature page after the signature of the parties to the agreement, you will have an endorsement for you to assign your rights over to another party.

Verify that the license is “active,” that the contractor carries the endorsement for residential work, and that the name and other information on the license matches the contractor you are considering.

Then you can buy land, wait, and they can destroy ALL of the value of said land through regulations, invisible floodplains that FEMA doesn't endorse, etc.  

One easy one is google the 203k endorsement summary.

You want to make sure it covers lost rents, but that and other key endorsements are generally included.Some tenancies - like an exercise facility, commercial kitchen, or bar - can cause a problem, and it's worth asking your agent if any existing tenants present added exposure. 

For example, Vandalism & Malicious Mischief is an endorsement (add-on) with many DP1 insurance policies, and is not always automatically included.