Essentially, you are paying for something you hope you never have to use....but if it does happen, you have multiple parties in your corner fighting off a claim, for many years if needs be, and even if the limits of one were exhausted, you have another...and the legal fees alone could be large, so nice to have the insurers footing that bill and having an interested in settling or disposing of the suit....great question, though, could you be overinsured?

I do believe that if you stick to your requirements and  expand your prospect pool you will uncover a great deal.  

Closing on that first flip is so nice!

Kind Regards,Justin PetersReal Estate ProfessionalDallas/Fort Worth Take more action and the rest will uncover itself. 10X the amount of effort. 

Our homes/condo rented quickly (twice before the sellers or departing renters even moved out) because they're so nice. 

Just started uncovering the real estate world about 2 months ago and love what I am seeing on Bigger Pockets!  

So i devoted the next 3 months to reading, and uncovering knowledge as if my life depended on it, and it sort of did.

It's so nice to finally hear about a tenant actually paying what they owe, I'm happy for you!

When the demolition is complete those items are uncovered.

Personally, I'd rather flip in a nice area than a not-so-nice area, so that shouldn't stop you, as long as the numbers are good.