WikipediaLow crime rate: Never invest in any city on this list: The most dangerous cities in America, rankedLow operating costs: Good indicators of a pro-business climate include:Property taxes: State Property Tax Rates - Rocket Mortgage.State average insurance cost: Insurance - ValuePenguinState income taxes: Tax FoundationLow risk of a natural disaster: Natural disasters can devastate your property and the surrounding community, leading to job losses and the closure of shops and businesses.

As I mentioned above, the risk of being sued, found guilty, and fined more than your insurance will cover is almost non-existent. 

Are there any insurance policies or providers you recommend for this unique use case?

I have already shopped insurance, and the sellers are providing $5k towards prepaids/closing costs. 

If it is for liability protection, keep in mind to actually limit your liability means that any loans and insurance for the property need to properly be in the name of the LLC and not your personally.

The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).

You need to think about not just the potential income but also the potential problems such as city ordinances, state law, insurance, potential eviction issues, etc.

I just have vacant home insurance along with regular home insurance, but no other professional liability insurance.

In my case this week this was full title insurance for me as a lender in 4 hours which as stated is the fastest service I personally have gotten.

@Jinglei ShenThe insurance of $1,400 a year seems pretty high in my opinion.