After the 2 hurricanes maybe only 25% were still on the beach, but the hurricanes were a pain and resulted in our insurance going up significantly. 

However, depending on your loan type, if you put less than 20% down, you may have PMI (private mortgage insurance) which will make your monthly payment higher by up to a couple hundred dollars.

Or if my landlord homeowners insurance policy will cover this?

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120. 

if it burns down, I will have insurance.  

The rest of the cash is sitting in a Whole life insurance policy growing every day waiting for the next opportunity. 

I would include at least the heavy hitters like title insurance, transfer taxes, appraisal, and paying my closing agent.

Just get extra liability insurance on them.

If they settled out of court, why didn't insurance pay everything? 

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.