I also build rehab repair all of my houses myself so the repair/rehab aspect of a house/costs are second nature to me. send me a message if interested.

In addition, our natural gas utility company is quick to share resources and check out the gas appliances if there is ever a suspected problem.

Note that radio, television, and cable enterprises are commercial in nature.

But I think that is just the nature of this RE market that we are in.

If you feel that $500K in coverage is adequate, you can also choose to forego the commercial umbrella.

Check this discussion.This is a neverending discussion because of the industry's nature if you ask me.

Did you consider natural gas, since it tends to be the more affordable fuel choice?

I have a lot of patience; it is my nature.

Of course the property would need to be a relatively higher cap rate considering it would need to cover the 6 & 8% interest being paid.Another option would be a lease option or something of that nature, sublet and exercise the option with private money or a conventional loan.I would love to hear some other ideas/thoughts, etc. on this!

Assuming you have a clause in your lease requiring the tenant to maintain adequate heat in the apartment (usually 50 degrees F), and that the lease also states she/he is responsible for any damages resulting from failure to do so, to collect reimbursement you still might need documentation showing that the pipe burst due to freezing, and that it wasn't an improperly soldered fitting that failed on the day she notified you.