These loans do come from banks directly (Fannie/Freddie loans come from the Federal Government) so each bank that offers these types of mortgages might have slightly different requirements. 

This is because most of the financing comes from government programs and they, of course, prefer to keep as much investing as possible within the country.  

However, my take on this is they did not do sufficient due diligence on many fronts, including city government challenges, operating challenges, infrastructure challenges and marketing challenges. 

Get some policies and procedures in place.

I don't think you can purchase a policy for one tenant, but you can create a master policy for all your units.

Also, can you say more about landlord vs renter’s policy on insurance ?

Out of college I primarily had student debt of around $22k at 4% interest(all the government loans).

For various reasons, the US government wants to understand the "beneficial ownership" of certain businesses.

Hiring unlicensed and uninsured contractors is considered  an exclusion under most property insurance policies, meaning you could be giving up that benefit as well.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.