If you remove this covered peril, you're removing wind damage coverage to the entire building, and not just the roof.Your assessment of the deductible seems accurate, but I can't speak for the replacement cost of a new roof. 

If a property meets the 1% rule, it typically indicates that it can cover its mortgage and other expenses while still providing positive cash flow.35% Operational Expenses: This rule helps estimate the proportion of rental income that will be consumed by operating expenses, excluding the mortgage.

Everything else is bad.Also, why have you read the books here on BP that cover this?

LOL..Sounds like I've got that covered already here. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

This now allowed me to have 2 roommates to cover the mortgage.

Ask yourself this....if you don't have the required permits and something happens to your property, will your insurance cover your claim?

If the 22 + 70 acres appraises high enough to cover my mortgage, can I own the 8 acres parcel/building lot free and clear and pull a HELOC on it?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Sounds like someone is trying to cover their butts.