I have a policy with American Home Shield and you can view the coverage online even if you don't have one...so take a look, it will answer many questions. 

I've done this and plan to do more to supplement my retirement.  

I stumbled into real estate investing while looking into ways to make passive income to supplement my regular job. 

This means you cannot use the money in your own interest, so these accounts will likely be a good supplement to investing you do outside of retirement funds, not a replacement for it.

While you foot the bill yourself, your opponents are funded either by insurance coverage or with money from the association's treasury funded by all members. 

@Michael ElfantBuilder’s risk covers damage to the unit being constructed (property)General liability is more like umbrella coverage.

You can even get investor loans on 1-4 unit properties that do not factor in your income, only the debt service coverage on the property you are acquiring.

For example, Finance of America has their own calculation for debt coverage that may limit the amount of leverage they will lend to.Best of luckStephanie

If title is not in your name, then you need not worry about liability but if it's vacant will want to get that coverage as well.   

The insurance cost came in around $235 per month for insurance that would pay replacement cost OR the agent also offered ACV coverage which I understand to be paid out as the cost of the item at the time for $177 per month.