I am also a preacher of find a quality Pm and find a property around their coverage area. 

Not all banks will work with you on deals with subordinated debt but 2 out of 10 likely will if the numbers and debt coverage ratios are sufficient to support the asset and debt load. 

I'd also do a comprehensive inspection of the unit.

Their primary concern is with the Debt Service Coverage Ratio when looking at an investment property.

What does your rental agreement say about "unauthorized occupants" and "guests".Did you do a comprehensive application process and background check on your tenant?

While most lines are covered by Farmers directly, they are set up as insurance brokers and can sell other lines of coverage as needed.

Can the buyer of the condo purchase their own flood insurance policy in lieu of the HOA maintaining coverage?

Banks will most likely ask for higher down payment as they look for DSCR (debt service coverage ratio) greater than 1.25 ie annual NOI/Debt > 1.25.

This form acts as a true-up between what you initially estimated your taxable income to be versus what it actually shakes out to be (i.e. it determines what premium tax credit you should receive vs what advance premium tax credit you actually received and your income tax return liability will be modified based on the disparity between these two amounts).Highly recommend you consult your tax advisor on this...It won't be possible for us to give you a ballpark on what you'll pay as there are varying levels of coverage -- of which you'll choose based on your financial profile, health, and risk tolerance, and, as previously stated, your projected taxable income may modify the monthly payments.

@Patrick Sears, even if there is such insurance product, it will be prohibitely expensive relative to benefits.Insurance policies have vandalism coverage/clauses, but I think that applies to vacant properties.One thing that you want is to require tenants get their own insurance (in case they burn down the kitchen) and ask them to add you to it - but you have to be careful, there is a difference between additional interest (which notifies you only of policy continuance) and additional insured (which might make it difficult to collect as in the case of burned kitchen it will be like suing yourself to get the money) - check with an insurance specialist.