(If it doesn't work as an LTR, maybe you still go forward because the cash flow is so good, but you'd better be pretty confident you could sell should things turn.About short-term rental insurance: Definitely call your carrier.

Make sure your insurance will cover you in this aspect, some carriers do not (they'll cover everything else, just not the pool).

It's backed by a war machine...aircraft carriers, missiles, etc.

You can look for someone who specializes in selling that product but they will most likely be a Farmers or Nationwide agent that has access to quote with those carriers. 

If it's an older building, with aging systems, like @Owen Dashner pointed out, you'll have even more expenses maintaining everythingInsurance Estimate at $720/year: if you really can insure an 8-plex for $720/year, please PM me because I'd really want to know the carrier.

We just switched carriers for our entire portfolio and went with realprotect.com- Julia Johnson.Cheaper premiums, lower deductibles, and full replacement coverage compared to what we had before.

And don't be too surprised if it ends up being a little expensive, as well as with the insurance carrier that insured Beyonce's rear...

Insurance carriers do charge a surcharge for older homes built pre-1930 and also for it being a multi unit.

@Edward Burke What you are looking for is an Insurance Policy that replaces the Coinsurance clause with the Agreed Value clause.This policy gives you the ability to insure a building for less than the Replacement Cost, without being penalized for not insuring 100% of the Replacement Cost.Most companies do not offer this coverage, which is why your not getting great responses to your request.Also, if your calling the companies you list above, they are not players in the commercial Insurance space, and the agents don't have the ability to craft a policy to your needs.There are several insurance carriers that can do this. 

For instance, they are underwater or the home value is too high.You can look at the demographics of specific "carrier routes" (CRRT) within a zip code to pick the ones that have the highest rate of homeownership and desirable average price range.