How long it takes will depend on government policies & economy in general.

@Aaron K. and @Claire Rosenberg all properties are in a flood zone the only differentiator with the flood zones is the "high-risk" flood zones is your lender will require flood insurance in order to get the funds.This is a law.These flood zones are identified with a Flood zone A, Flood zone AE or V, VE.Lenders do not need to require flood insurance in low-to-moderate risk flood zones usually identified as an X flood zone.It doesn't mean that the property will not flood it just simply means that you will not be "required by your lender" to purchase a flood insurance policy.Every year 20% and in some estimates 35% of flooding events are in the "considered low risk" flood zones.The purpose of all insurance (including flood) is to off set your risk this is why you buy a hazard (or homeowners policy) or umbrella policy or auto policy and of course life insurance.But flood insurance is the one that most people decided that they do not need, and many think that their homeowner policy will cover flooding.

A common theme is for landlords to require their tenants to purchase a Renters Insurance policy. 

Unless you have significant other assets to protect, a robust umbrella insurance policy may be easier and cheaper.

For example in my city, it is limited to 3 unrelated adults, but our policy is no more than 2 unrelated adults. 

There are quite a few guidelines in the licensing course on how the ad for a listing should look like, but not much on policies to adhere to when placing an ad for advertising oneself as a realtor.Any tips from this group for a first time would be great.

Require them to add you (the Landlord) as "additional insured" or "additional interest" on their liability policy.

There is some protection with an LLC but I would consider getting to know a local lawyer that can give you some guidance on whether it’s worth putting it in an LLC vs having an umbrella insurance policy.

What matters is the definition of Insured in the policy. 

I don't recall their actual policy but we bought 8 cases of glazed subway tiles (same production run) and after opening the first case and setting out a few tiles realized there were a lot of pits in the glaze.