Allstate and State Farm in Illinois lately have been huge a**holes as far as providing coverage when a loss occurs.

In that case, I would shop it around to see if any other regular carriers will write the coverage.  

Hi Ruth,For STR (Short-Term Rental), MTR (Mid-Term Rental), and second/vacation homes, DSCR Loans (Debt Service Coverage Ratio) are often the best option.

We have programs that we readily pay your; grocery bill, rent, cell phone, internet, spending money, health insurance, Rx coverage, day care AND to boot not only do you NOT have to pay diddly-squat in income tax's that the rest of us subsidize (pay) for you but we even send you a big fat check each year if you have kids. 

This seems simple enough and I could increase my umbrella coverage limits for added protection.

Proper Insurance has bed bug coverage for STRs, plus for lost revenue. 

Without discussing or get an acknowledgement from me NREIG changed my portfolio coverage and jack up my premium across my portfolio by more than double. 

When you can buy properties like this, you can get almost 100% of your money out of the property, convert the property into a long term rental loan, with a DSCR Loan (Debt Service Coverage Ratio) where we as the lender look at the property and if it cash flows, and that is expressed as a ratio, for instance if your Total Loan payment including Principal, Interest, Taxes and Insurance was $1000/mo, then you would need a rent of $1200/mo and you would have a 1.2 DSCR Ratio.Here is an example of a cheap duplex https://www.zillow.com/homedetails/732-Broad-St-Menasha-WI-5...

Get ready to spend some serious time shopping insurance and make sure to get rental income replacement coverage in case of a loss.  

I'm not looking to create cash flow, replace, or supplement income, so as long as the place isn't hemorrhaging cash, I'll be fine with it.My 'ask' is to connect with folks who own or manage any STR / MTRs in the vicinity in the hopes of just getting more knowledgeable about the local regs, different communities, etc.Thanks!