It is investment banking, so the rules are much different than your "normal" lenders who offer mortgages or loans to cover a single or portfolio of collateral. 

This plan covers 24/7/365 troubleshooting services from Lula's experts (such as guidance on resetting a circuit breaker), tenant coordination for scheduling repairs, and access to a network of vetted professionals.Once you're subscribed to Lula, you can set aside a pre-approved amount for repairs, which can be used without needing to contact you as well.

By adopting the house-hacking method—living in one unit while renting out the others—we plan for the tenants to cover the mortgage and gain valuable property management experience.

I have umbrella insurance under my personal names currently so I'm wondering if the umbrella insurance would cover me in the event of some liabilityQuestions:- Am I better off keeping the rentals in my name since I have umbrella insurance?

I would look at it in terms of whether you can afford a worst case scenario where you're covering the deductible and have a credit line or cash to front the re-build cost and getting reimbursed from insurance afterwards.

The part of the home you live in can be covered under an HO3 (homeowner’s) policy, but the rented unit needs to be covered by a landlord or dwelling policy like a DP1 or DP2.

At this point, instead of continuing to pay the interest loan payments on properties that we will never be able to financially finish since the rehab loans will not cover the actual cost of the rehab, I wanted to know the ramifications of returning the properties to the loan servicer, deed in lieu.

I was wondering will the insurance cover the cost or no because no police report?

I’d suggest exploring a bridge loan that covers a portion of the purchase price along with 100% of the renovation costs.

Yes you have insurance, but it may not cover everything.