A DSCR is a debt service coverage ratio loan (against the new property) and effectively uses a proportion of the current or proposed rental income to qualify.

@David Tang speaking from experience, you want the tenants to have coverage.

And HOA insurance coverage is very minimal so if something does happen, HOA likely won't be able to pay for much.  

Their Hartford quote is also well above the price my own agent had gotten me from Hartford and at least initially appears to be identical coverage.  

You could use a debt-service coverage ratio (investor cashflow) loan to get around the income needed, but would require that downpayment minimum still.

In this case, after speaking with local real estate agents, a local appraiser, and a half dozen lenders, I think (hope) I'll get away with my err in judgement this time and procede as "by the book" as possible going forward.Regarding the insurance, everyone has stories about insurance companies trying to weasel out of their coverages.

If you bought 5 properties with $300,0000, they all need to be throwing off a total combine of 20% return to get that $5,000 (as the example above shows), to get that expense coverage for your ability to leave your job. 

Traditional insurance coverage, RV’snormally stay a flat rate throughout the year, thus you will stillneed to maintain full coverage.

@Samuel Ksiazkieicz and @Amy LuThere are various companies like foremost, diamond preferred, Aegis, North Pointe.. based on location, rental loss coverage, swimming pool in property or not, pets etc.; the rates are different for various locations.Normally, I use an agent; who helps to locate the  best price. 

Otherwise, you could potentially do a Debt-Service Coverage Ratio purchase or refinance to get the necessary funds which would be a cashflow based lending option for investments.