I've been gradually increasing rent.

But ...The first thing I observed was the replacement cost portion of the quote, was, IMO, less than what it will actually cost to demolish the remains of the existing structure, pay for any hazardous waste removal following a catastrophic loss, and actually pay to replace the property in the event of a total loss, even though I used the quote feature to increase the replacement cost value by 20% (the maximum it would allow).

I suspect that is unlikely with the increased need for housing.  

Now that you know this little secret (that most don’t), you can make informed decisions when it comes to increasing rents for new leases and renewals.

It will be cheaper than our mortgage and our incomes will be increasing.

He tells you to pay him $5,000 (or much more) to learn all the "secrets" that made him wealth, but then he doesn't tell you that his "secret" was to increase earnings, reduce expenses, save up and invest.

If a tenant causes a claim, why should the landlord's insurance pay - possibly resulting in an increase in premium or even a cancellation of the policy?

I like the cash flow and see the potential for increasing rents, but I’m hesitant about overpaying.

With a few tweaks to the management structure, and with new leadership, I figure we can greatly increase the revenue.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.