This also costs 200-300 EUR depending on what's included.

Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance. 

Find one that can be custom to your needs, has flexible pricing, no long-term, high-cost memberships, and excellent customer services to determine how to best market to your leads.If you would like a referral code or more information please let me know :)

If you don't you are likely costing yourself bookings.

I understand I can increase liability in each individual landlord policy, but one single umbrella policy is much more cost effective when I have multiple properties.

I would like to enter the landscape of real estate investing, but the area I live in has a barrier to entry with regards to cost.

Do you have a preferred type of property and price range you're looking for in general (knowing the costs can be different based on they market)?

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

If you buy for $110k you can finance $88k if you come out of pocket for the $22k down payment plus closing costs. 

For most investors, to provide true separation would be cost prohibitive (between $10k-$15k).