With insurance companies canceling policies and raising rates has anyone uncovered a way to self insure rental properties?  

If you pay cash for something and are able to refinance at a rate that makes sense to pay off your HELOC, that's the only thing I could see making some sense. 

Thought about refinancing at the time, but didn't do it before rates exploded.

That was when the market was stabilized, rates were sub 4.5% and distressed properties actually sold for a significant discount.Today, distressed properties sell for a premium and cash out refi rates are over 8%. 

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

Is it high appreciation area with a low rate mortgage?

For the 10 year period spanning December 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.4% in that period.

Please update us with what rates you end up getting quoted.

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.