How does their "generous liability insurance and requiring renters insurance" specifically benefit owners?

Our cost basis has been accumulating with our purchase price and then the 2 years of major repairs during 2022-2023 as well as taxes, utilities and insurance from '22-'23.  

This also begins YOUR title seasoning, so that when you're ready to take out a traditional mortgage, you can refinance and pay off the seller without a title seasoning issue. you can buy title insurance from the title company at closing. this is a good idea. 

Totally random but I know you can normally get a nice discount on your hazard insurance if you're within a certain distance of a Fire Station @Ray Ebert

When it was all said and done I still ended up being able to pull about 5 to 10k more out of it than I put into it.Current mortgage including taxes and insurance is $1,519 and it's currently rented for $2,546/month.Yes, you can buy a house at auction that you then flip and sell for market value.And yes, I have participated in online auctions.This reply is over a year old, but did you have the hard money lender you were using already in place before you bid?

Defending, These fall into a couple of groups, both nasty Eventually you will either face a Due on Sale clause, a seller bankruptcy, a court order in a divorce that affects the property or a fire insurance claim, a slip & fall, very bad tenant, storm damage, and the list goes on.

Loan Costs, Deposits, and Escrows: Origination fees, application fees, third party reports, legal, insurance review, title & escrow, rate caps (floating rate loans), due diligence deposit, rate lock deposit, standard escrows, etc.6.

Also, cash flow from the rental needs to cover your mortgage, insurance, and taxes.

The home will need some work, but I am excited about it.I would appreciate any recommendations for a reasonably priced insurance company for the unit while I am rehabbing it.

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow.