From your posts I believe you probably will not understand the exceptions from coverage that will be listed in the commitment. 

Steve,From an insurance standpoint, the first thing to do is secure Liability coverage for that property.

For the dwelling coverage we prefer just enough to really cover the property/debt and that's about it.

Even if the value of the property has increased enough, will the debt coverage ratio allow that much of a refinance.

It's $150K in coverage, $50K property, for $740/year (including the $250 surcharge).Floods are not likely to happen in an X zone but, when they do, it can cause tens of thousands of dollars in damage. 

In my opinion this way provides less liability coverage as the home is technically owned by you but now in your LLC.

Another is an umbrella policy that gives you a lot of coverage as well.  

But look into your landlord's policy and also talk to your insurance broker about this specific coverage if it's available.

He's the only insurance agent I know of that gets in contact with you periodically to make sure your coverage is still adequate or whether you should re-shop your policy.

Much of what I see online lays out specific minimum limits for your basic coverage on auto insurance, etc. to qualify for the umbrella policy.