Here is the best part: New York City evictions, due to anti-landlord policymakers and judges, can take as long as 60-90 days to process, meaning that fines could be anywhere between $70 & $100K...To prevent that from happening we have implemented a zero tolerance policy across our entire portfolio and have been forced to take a MUCH more hands-on approach to managing our buildings, including: Monitoring Airbnb, VRBO, Homeaway and other sites SEVERAL times a day.Periodically knocking on doors of tenants we suspect are illegally subletting.Removing locks/installing keyless entryAmmending leases to allow for impromptu inspections/termination clauses.Has anyone else out there in NYC or SF encountered this issue?

They shop your policy around and get you a better rate, and you're not paying for the large advertising budget of the big companies.My policies obviously insure the building itself, but also include liability coverage in case someone were to get injured on my property and they also include loss of income coverage.

First, you should have a written policy on how you screen applicants and how the applicant can secure the rental.

Most policies exclude knob and tube wiring, if this is what you have.

If our policy makers can focus less on blame and hair-brained conspiracy theories and more on solutions it'll get resolved faster. 

I use ACV policies with Shelter Insurance and they are extremely reasonable.

When you start closing get an insurance policy that protects you if there is a loss.  

As for your question on another disaster I have a renters clause in my HOI where if my tenants are displaced my insurance pays the lost rent - I have to look at the policy on my other house on how long it goes for but I think it's for up to 6 months.  

Done right, however, business entities are vastly superior to a simple insurance policy with some kind of umbrella/excess coverage.

[the financial institution] does not change their policy on this.I have a meeting scheduled for Saturday with a different lender and I will find out how little I can get away with putting down...Your point on taking into account property management makes sense.