Your best bet is to just talk to both as quickly as possible and let them know the situation.If you have signed a lease, technically you are liable for the terms of that lease, even if you only paid a reservation deposit. 

I have looked into "corporate" umbrella policies, but those have tended to be overly expensive in my findings.One thing you can do is require all of your tenants to purchase their own renters policy, and that will help cover most common things.And jumping ahead to an LLC, buying the property personally is going to be your best bet, since you are living there. 

Seems to be a popular pastime at the moment...Are you convincing yourself that ARMAGEDDON is IMMINENT and we are ALL GOING TO DIE or at least you are going to be financially RUINED because of this...or is this about a general anger that the world won't behave itself?

Not all that popular with the buy and hold crowd but a nice diversification. 

I only have one vacancy now in San Francisco (in a less popular rental neighborhood), which went from slow the last couple of weeks, to now (2-3 days) showing no sign of life.

I think it is the same in real estate-  you are basically hedging your bets during a down turn by buying low.

@Chris Seveney  good points.but your point on max leverage to buy rentals and BRRR pull out all your cash.. while sure popular to help people go from 2 rentals to 20 in a year and be a BP hero investor LOL..

This is the reason that remote investing has become so popular.

On the refi, I bet you can get a rate in the 4s.

Your best bet for a first investment is a house hack duplex if you can find one.