For reference (a two story row brick row building that is approximately 3,000 SF requires $550k in coverage for the building alone from my carrier).

It may be the type of thing where you don't need nearly what you think in coverage, but this brings up another important question, is will it be a condo building?

Errors and Omissions insurance is a liability insurance policy, usually for professionals, that covers the harms done if they fail to properly execute their professional obligations.There's often a risk analysis process that goes into writing that coverage that includes a contract review, just to make sure that the PM (or other professional) is adequately protected from assuming liability.

Wow, thanks for the comprehensive information Paul.

I tried to find a list of "estimated" costs for standard rehab projects but I haven't found anything that is very comprehensive.

RMLOs will have bonding requirements, rather low and be insurable under the sponsor's insurance coverage.

I pay about $65 a month for Per-50K worth of coverage, however I just met someone who gets a better deal then I do.  

Consider a smaller or different coverage?)

Our REIT offers vacation coverage,  we've never tried it to see if it's worth it.Agree on not telling your tenants you are gone.

If expenses were only 35% of monthly rent (45%-50% is more the rule of thumb), assuming a 1.2 debt coverage ratio, the investor would need monthly rents of at least $1,200/month+.