If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

I do have an umbrella policy to cover all my assets but that has nothing to do with what replacement cost is to having full coverage on a property.ThanksDaria

Many investors, like myself, just hold TItle personally with homeowners/landlord insurance, umbrella policy, and keep the property in good repair. 

Also, the liability limit is good, but I always quote with 500,000 so you can be eligible for an umbrella policy, and it doesn’t take a millionaire to be sued like one!

Umbrella insurance covers the rest of the risk.

If you prefer conventional, you can buy it under conventional and get an umbrella policy to protect yourself.

Potential solution: Get business related insurance (either through rental or umbrella), and town permission to run a business here.3) Not being entirely truthful of questionnaire when asked about history.

Until 2000 they were independent of any affiliations with companies or people selling products, with the exception that they might charge a small fee to “speakers”.At or around 2000 the National Real Estate Investors Association (NREIA) was formed as an “umbrella” organization in which local REIAs would be members.  

They also have my auto insurance, and I took out an umbrella policy with them as well.

Maybe think of the fact that if you put all those properties in an LLC, you'll have a heck of a time getting an umbrella policy so you'll have exposure.