Would this just include all LLCs (since all LLCs are corporations), or do they specify an LLC with specific criteria since by corporation they mean non-LLC corporations?

Save that money for a good home inspection that includes a sewer scope.They understand the law but typically do not understand real estate transactions well.

Reality is many bad events/outcomes was done with risk and/or stupidity including poor research.

I received a quote for $3492 annual policy for RCV of $270,000 which also includes liability up to $2,000,000 (see list of liability covered).

Quote from @Evan Polaski: @Enrique Roth, every investor should be preparing a full appraisal package.In mine, I include 1. before and after photos, 2. 5-6 comps that I want the appraiser to use, WITH explanations of what the comps have or don't have compared to mine.  

Here’s what a typical SOW for a house flipper might include:1.

An increasing number of cities are placing restrictions on short term rentals, including on the Oregon Coast, believing that they cause a housing shortage for locals. 

Next you want to form an LLC that will serve as the management company for your LLC and perform duties including rent collections and sign all contracts on behalf of the business.

I used to even include a clip of the newspaper articles when a major levy was passed.   

So purchase price, as long as you can obtain initial funds to execute the BRRRR (including the value add), has zero bearing.