How long should we keep our insurance property (if we can even do so) in case the tenant decides to sue us?

Get with a good local agent who understands the submarkets, and buy for the long term.

I'm buying property / rentals to make money & build long term wealth via tenants paying my mortgage for me and gain the equity.

Are these long distance flips you're doing? 

My apartment building is stabilized under the J-51 program which is an incentive for landlords to update older buildings as long as the keep the rents stabilized for a certain number of years.

Nice area though and properties probably will hold their value as long as kids go to school in person at a building/campus. 

You can absolutely keep going from FHA to FHA (as long as you move into the properties), but you will need to refinance to first home into conventional before using FHA again.

Furthermore, delaying decisions may prevent both parties from pursuing new opportunities aligned with their respective goals.Evaluate your long-term financial objectives and personal aspirations for the portfolio.

Exterior areas are still being finished, but property is up and running at 100% with many long weekends at full occupancy.

I know someone buying properties in the Tampa Bay area that around 2018 year built.They have a unique rental strategy that is grossing around $4200-4500 per month as long-term rentals.