I found some articles and old forum posts on BP last night that discussed problems with financing and insurance for this arrangement. 

As a sole operator, you have all the policies and procedures in your head and can apply them to many properties without referring to a binder.

I came across some critical information today that I think is important to share with you:In the aftermath of the LA fires, it has become evident that some homeowners’ insurance claims have been denied or disputed because the property title was held in a trust, but the insurance policy was under the individual homeowner’s name.This serves as a valuable reminder to review your insurance policies and ensure that the ownership structure on your property title matches the named insured on their policy.

Would an umbrella policy cover us? 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Quote from @Joel Bechtel: The agent I spoke with has about 30 years of insurance experience, so I’d hope she knows what she’s talking about and what she’s offering.I have another policy with Allstate for my 6-unit property, which they were able to insure for approximately $890K because the replacement cost came in under $1M.

I'm curious, have you run into any insurance issues? 

(FWIW,$8K on just the compressor seem excessive.)Otherwise, unless your contract with your GC says they will provide 24/7 surveillance, or you can prove the AC was never installed, you own the problem.If the property has been vacant for more than 30 days, most policies won't cover vandalism unless you have added a Builders Risk Addendum.

I have 2 rentals in SW FL- both have open insurance claims and a public adjuster is involved.My insurance policies renew April/May.

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