As mentioned above, most lenders require a minimum debt service coverage ratio of 1.25x; however the Freddie Mac Small Balance Loan calls for a minimum DSCR of 1.20x.

$100/mo seems low for a multi family building, unless your coverage amounts are low to the point of not being useful.If it's in a low income area I would double your vacancy calculation as you will almost definitely have issues with that.Same thing with your maintenance, are these buildings brand new?

A comprehensive description of what you are trying to accomplish can be listened to on the Bigger Pockets Podcast - Episode 4 with Frank Gallinelli. 

You can require specific limits of liability coverage and you should also make sure they are insuring it for replacement cost and double check the amount of coverage to make sure you agree it could be rebuilt for that amount if it should get destroyed in any way?

Usually pretty comprehensive from what I can tell.

Furthermore, we make sure that our going in debt coverage ratio is high as an extra measure of safety.With that said, we are doing two cash-out refi's right now on our stabilized properties, both at 65% LTV. 

I am definitely getting liability coverage up to $1 million and loss of rents for up to 1 year, but I'm not sure how much coverage to get for fire, flood, vandalism, etc.

My wife and I currently own rental property and have HOW coverage from American Home Shield for some time.

RealQuest is pretty comprehensive, one of the leading products in the market place.

Legal coverage.