The majority thing about insurance is to protect the HOA from being sued and to protect HOA board members also. 

There are neighborhoods such as Olivia Beach that allow STR usages outright as well as pockets with specific Commercial Tourist Zoning that are not subject to a waitlist.The other major change to a top STR destination was in Rockaway Beach Oregon.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

In areas like Frisco, Plano, or Arlington, proximity to major employers and universities like TCU or SMU can make a big difference.Stay Curious and PersistentReal estate investing is a marathon, not a sprint.

Did you keep some coverage in case of major lawsuits? 

One of the major driving factors for increased premiums is the carrier's requirement for higher replacement cost limits on file for buildings. 

Quote from @John Friendas: Hey,My investing partner and I have reached an agreement where he would have the debt under his name and apply for it individually, and I would do the majority of the management (he is out of state and my income is half his).

Thats a great way to profit of $177K in a year but she did know the contractors and the has an eye for those type of quick turn arounds.You will see multifamily 2-4 units a ton of duplex 2 units for under $250K again these are usually not turnkey fully renovated properties but they will pass an appraisal without being subject to any major repairs.

I use to tear down dozens of homes here and in Franklinton that almost blew over. not a lot in linden since they are built after 1945 and without all the major issues. 

Philly, like a lot of major US cities, is very block by block.