If the insurance is escrowed you simply set up the new policy with your insurance carrier, naming the trustee and benfeciaries of the trust as they may appear as the insured/loss payee, and of course the existing lender.The insurance company will send info to the lender, and get paid.

Cell carriers generally don't give you a percentage of an ad.

The E&O Can be a benefit or a curse, just depending on how your carrier is.

Only works with solid credit, the PMI carriers currently won't touch this if you're FICO isn't strong.

So every year, we receive a notice of cancellation from the insurance carrier of "imminent policy cancellation" due to non-payment, followed by the bank saying they received a cancellation notice from the insurance carrier that if I fail to carry the necessary insurance they would have to take action...OK what action? 

I have family over in Harrisburg and carrier mills.

If the building has a single legal address most of our carriers would consider it to be one building with two units.  

and a 3rd also private carrier was $500.  

I would turn it over to your insurance carrier.. or put them on notice.. mold is generally caused by the TENANT is my experience.. but its a buzz word that's for sure.. 

I have had customers with 2-3 claims on a property and now they are struggling to find a carrier that will accept them and their only options are typically to go to a non-admitted surplus lines carrier which has very high premiums.Speaking as an agent i say its better to have the coverage and not need than to need it and not have it (or not enough of it).