My ideal location is in the middle so I'm away from severe flood risk, but still 15-20 mins tops to downtown or the beach.  

The transaction is insured via E&O.

.: Quote from @Andrew Steffens: Curious what is the purchase price and taxes/insurance/HOA?

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

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

You'll want to ask about their experience, read reviews, understand their availability, pricing, insurance / bonding, and how they safeguard their funds. 

Older properties can be picked up for < 50% of ARV and go up in value in rapid ways with urban renewal efforts … I’ve seen this happen time and time again and so it’s worth saying, diversification is ideal.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

Apartments are the least ideal living situation for us, so what if we got stuck in a multifamily property we intended to just be in for a short time.

Private mortgage insurance i believe is not charged on va loans.