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.

The dwelling Fire Rates vary widely so you want to make sure you are getting the right coverage and a competitive rate

The cash on cash and debt service coverage ratios are both good with my analysis.The other question I usually ask people is, what about factors that don't show up in the numbers, like the condition of the property/components (is there a lot of deferred maintenance?)

Also, I'm looking for a broad or basic coverage and can have a high deductible to save on premiums.

The answer is a bronze service with catastrophic coverage and dump dental and vision.

You want good coverage and brokers do that at a reasonable cost.