If this is a home that you rent out and do not live in, typically you would just get a landlord policy (also referred to as a dwelling fire policy).You can also get an umbrella policy to cover you over and above that, and that’s a separate policy (which is usually pretty cheap).Your insurance agent should be able to advise/quote you on the best coverage. 

The cash on cash return is a much better, more comprehensive, and more accurate figure to look at to understand what profit you can expect because it factors in the method of financing, the size of the monthly loan payment, etc.Please let me know if you have any other questions.

If you are looking to buy in an LLC, I'd consider buying in your own name, getting the lower interest rate and adding in more liability coverage (property+umbrella).  

Because they are a lot cheaper than you might think.I've got a Builder's Risk Policy from Foremost Insurance thru my agent, with about $40k in coverage for a vacant home being remodeled, and it's about $286 every 6-months.But I also got a quote from my agent on a 6-month term from Diamond State Insurance for a $300k in General Liability and $50k in Fire Damage on a vacant home, and it's $100 for a 6-month term, but that covers only a single home.

My mentality now is that I can just carry good insurance coverage on each property along with a massive umbrella policy which pretty much should cover anything under the Sun regarding litigation. 

I would suggest a DSCR (Debt Service Coverage Ratio) Loan.

There is a benefit to having an LLC and to working with those conditions, which is that the lenders in this space consider the Debt Service Coverage Ratio DSCR, rather than the Debt to Income ratio used on the personal side. 

@Madelyn Tavarez Alecia recommends a good site for a more comprehensive search, if you want to do a preliminary search much cheaper for your initial due diligence try Property Shark.

Require the tenants hold me harmless in the case of liability arising from the beekeeping.Require they maintain a minimum liability coverage (I'm thinking 300-500k) and me as an additional interest.Require they get written verification from their insurance company that beekeeping isn't prohibited.Require permission from the neighbor directly adjacent to the beekeeping area? 

@Andrew Bissada in addition to down payment pin rate can be impacted by credit score, how many borrowers are on the loan, which Mortgage insurance company is selected, and can even depend on lender as you can see negotiated coverages.