Brandon,Check out Indiana & Ohio for states that you can buy 2-3 for that amount of liquid reserves. 

Yes, unfortunately it is dead in a lot of states, but not Columbus Ohio!

Would you have any helpful tips on what I need to learn, know, expect in doing this in a new state.

Home insurance would cover anything on premise, but as @Jonathan Bock stated, it's usually for significant damage.This might be something you would tackle on your own, but worth to have a conversation with your provider first to see what they have to say.

As the state capital, it boasts a strong government and military presence, supported by the nearby Air Force Base.

You might be able to find something in a neighbouring state to the east which is within driving distance.

I have a home in Flagstaff, AZ that is on 2.5 acres and backs up to undeveloped state land. 

thanks for your time and help 1st off, full disclosure here, Rent To Retirement advertises their properties on my Investment Properties For Sale Show, so I am not a totally unbiased opinion and it's only fair that I tell you this up frontHaving said that, outside of running my show for people like them, I also own a property management company in Northeast Ohio and have worked with 1,000's of out of state investors over the years.I say all of that to say this, the overwhelming majority of negative reviews I have seen on them are very similar to a lot of negative experiences investors have with my property management company and others like it that I've worked with.

If Ohio is like most states, this is a complicated task, not best left to chance. 

Make sure to get legal advice on what you can and can’t do for bill back and what kind of notice period is required in your state.