Let's say you did own the rental in an LLC, would that change the way insurance companies would view this?

I’d be curious to know what local company you found that would quote it, and if they used the CA Fair Plan in their quote. 

The asking price is under $125k and like mentioned earlier, the renovations would be 50% so there are major repairs (not move-in ready). 

Here is an exampleFacts: I am a W2 employee at a Company which does [describe.

Sometimes, we tax professionals can save you a lot of money or save you from a major problem.

We're also seeking to buy a local (Raleigh / Durham) property management company to expand that business more rapidly.

I've done a lot of research and have an agent & property management company that I'll be working with that is local to that city. 

We have a local roadside assistance company here that charges only $15 a month for hassle free roadside help here at the apartments and around our valley for our student tenants  that may be new to car troubles and away from home!

A real estate company told me the house needs too much work to rent out, and that an auction is the best course of action.

Even with some people I believe are honest, I simply believe most do not properly analyze and manage risk, as is evident with nearly every syndication doing capital calls right now because they didnt properly plan for rising rates.Dave Van Horn however, along with his company PPR one of the few people I trust in the real estate space.