What is advantageous is someone that is good at underwriting and unbiased (only analyzes the deal based on the underwriting without other emotions).Note i have a fair amount of experience and plan to place a competitive offer tomorrow that the underwriting dictates not placing a competitive offer.  

A living trust I recommend for estate planning - that is all it does.

Sometimes the tenants plan on paying a month's rent at two places to allow a less-hectic move. 

It's really impossible to give you a direct answer on your question without knowing a lot more about your plans. 

I plan on getting a few more pieces of real estate once i see how the market shakes out.

Or do you plan on giving them the $1,500?  

Unfortunately I had a bad inspector who missed a lot which made it about a $60K renovation instead of what I planned for which was $15K.

You have to ask yourself what the end goal and how many of these do you plan on doing to reach that goal.

I’ve heard some investors negotiate with their providers for extended coverage or switch to a landlord or vacant property insurance plan until the spec sells. 

We plan to keep this property long-term as part of our portfolio and look for additional investing opportunities in the future.