That will require the insurance carrier to notify you if the policy is cancelled for any reason including non payment.

There are a variety of carriers that will do this sort of risk however there are several options.

I am working with our attorney and insurance carrier to be sure I make the right choice.  

I looked into that but my insurance agent said the carriers would not insure an arrangement like that.

Hi Owen,There are a handful of carriers in FL that write short term rental insurance.

What you'll need to do is basically find insurance for a vacant apartment building, and once everything is rented out, you switch it over to a regular commercial landlord policy.Edit: You can either do what I said above, or you can find an agent that deals with non-standard markets that will find you a carrier that is okay with the property being less than 80% occupied.

Also, in many states you need an attorney to bring a claim for property damage against a third party that is not your insurance carrier (Florida allows it but I think that's still better handled by an attorney). 

I work with a few carriers that are great on residential rentals (including Foremost) and several good options for commercial property if that's what you're looking at.As an investor myself, I see the importance in the bottom line but also having the right protection.

That sounds like the carrier (Citizens) just does not like that kind of risk and so does not rate it in a favorable manner.

Realistically thought, I'm willing to bet each carrier has it in their policies that they must be informed.