Most policies come in at 225K dwelling coverage.

For investment properties, insurance agents are a good way to go since they can give you a policy that can protect you and your property with other people living on your property.

If not, develop a policy based on the HUD Keating Memo.

Look at your State's housing / discrimination policy it'll give you the boundaries. 

My policy is to only offer two types of leases: one year or month-to-month.

I will definitely add a bigger margin of safety in my numbers! 

This is more of a warning than a question.If you are deviating from your lease agreement or normal policies, be sure to put it in writing.

As stated by others, this was intentionally induced and numerous monetary measures and mechanisms have been put in place to mitigate and minimize the damages.I have no doubt that even after the pandemic has receded/subsided that there will be numerous more policies and mechanisms put in place to mitigate further. 

It's easier to enforce a no pet policy than it is to enforce all the stipulations necessary when pets are allowed.

I'd recommend he talk with a attorney anyway to confirm he can buy a title insurance policy to insure is interest in the property.