Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties. 

You would  then alert your insurance to it and it will go up but you would be covered. 

Moves risk to be financially covered by insurance hypothetically.

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time. 

By providing the necessary funding and covering renovation expenses, we ensured the project stayed on track and within budget, leading to a profitable outcome.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Kids are out of the houseand college is covered.

If not, then what he is trying to do is to avoid his reputation going down the drain and lose any future credibility and trust in the future. personally I am just familiar with the basics of buyer seller representations in a general sense you will need a FLA Broker or Attorney to describe to you based on the documents you have if there is a Duty from the agent on this transaction..

And all the tenants' security deposits and all the buyers'Earnest Money Deposits don't need my asset protection, as they are not my funds, and are certainly not covered by any of our Umbrella Insurance Policies.