Make sure you have Umbrella Policy as well.

Every policy and coverages are different.   

I guess the difference is that the title policy would pay up if necessary were you to have a current policy?  

Honesty is always the best policy, so it is important that you follow the rules set forth in the original loan documents and follow the path of assumption that are laid out in them.

Just make sure you update or don't invalidate such items as your Title insurance policy and your homeowner's/landlord's insurance policy.

Another strategy a lot of people over look is borrowing from life insurance policies.

@Adam Brammer Alright, so I fund commercial deals and deal with lender insurance policy requirements and am quite familiar.. what are they asking you to cover? 

Other cities such as New York, San Francisco and Washington D.C. have had rent control policies in place for decades."

There may be some specialty policies that will allow for the needed repair work.

Just had an AirBNB guest cancel after day 3 of a 30 day booking (we always use strict cancellation policy) because he said he drove by a grocery store 3 blocks away and saw ‘homeless people doing drugs.’The guest called AirBNB and pressured us to lift the strict policy and allow them to cancel for ‘the safety of their family.’A few months ago we had a guest cancel early because they ‘saw someone in the yard at night.’