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

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

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

You can look into the ATI exemption, but I dont know if it applies to vacation homes.

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.

@Jake Baker Man, what a tough situation.It’s a real reminder that even with solid plans, even with checking out our numbers a thousand times sometimes completely unexpected disasters can hit hard and mess everything up.

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. 

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

I definitely think with your age and the money you have, I would look into a vacation type area that has STRs.

However, keep in mind that tying your primary home to an investment carries inherent risks, especially if the flip doesn't go as planned.