@Sam Meador I have several carriers looking to write this sort of risk.

In response to contractor "not liking Trane" - that's bull, Trane Carrier and York protect there equipment and quality installations by having preferred dealers.

For many years, I have suggested that if you are going to be a landlord, you don't really need an LLC until your net worth is greater than the total liability coverage offered by your property hazard insurance and the maximum limit for an umbrella policy offered by your insurance carrier.  

@Ali Sheik as @Jason Bott mentioned, that amount seems somewhat reasonable but it really depends on the carrier and the particulars of the property.

I have several carriers and programs which are extremely competitive in this space.

Most reputable carriers ask for a copy of your lease so they can verify there is a tenant in it. 

@Marvin Meng The specific insurance carrier who will be the most competitive will depend on the type of portfolio you have. 

 @Derek Lacy Good point regarding the carriers that accept student housing.

They also have terrific prices on appliances and other REO supplies.Cabinets are shipped via common carrier un-assembled (not UPS or FEDEX).  

Jash,I've worked for a couple carriers down here that will write non-owner occupied.