I have had insurance companies decline coverage because the houses next to mine were condemned or vacant and really in poor condition.On the flip side it could be a good thing. if you are buying a property in an area that has declined as far as it will go and it could be back on its way up.

I can then also drop the insurance coverage to.

I have an agent I call, we run down the list of questions and I have coverage right then and there.

Interest applied to the original Loan amount, and not to the remaining balance.2 - 20 year term to payoff.3 - Payments would be made monthly for P & I.4 - Interest over 20 years @ 10%/year = $10k/year for each loan.5 - Principle payoff per year = $5k/yr/loan6 - TOTAL coverage needed = $15k/yr/loan or $30k/yr based on $200k in loans (both loans)This allows you to use the funds as many times as you want, but only have to pay for these funds once. 

If you have a property with $500k liability coverage and a $1M umbrella policy, you now have $1.5M worth of liability coverage.

I currently work full-time in the medical field for the past 20 years which limits my time.My goal is to move to the Tampa Bay area to be closer to family and get away from winter with REI being full time or supplement my income.

@Omar Khan - Ok thanks, on all the properties I have $500,000 liability Coverage and $5000 medical

Thanks @Tom S.This will not be a traditional mortgage, it is a business loan and due to the debt coverage ratio they are ok with a second mortgage as long as they remain in first position.I closed on 3 units with the same lender on the 1st of October this year with my own capital. 

It is always a good idea to evaluate the home insurance policy annually to ensure we have enough replacement cost coverage in case anything bad happen. 

Your property insurance probably has something like a half million dollar liability coverage.