Work with your insurance agent to get a low premium that has the coverage you need right around the same time you do your inspections.

Work with your insurance agent to get a low premium that has the coverage you need right around the same time you do your inspections.

Looking into this further, this Getting Affordable Flood Insurance page had "Some homeowners in very high risk areas may be able to get coverage only from the NFIP" [National Flood Insurance Program] - so that may be you.If so, on fema.gov there's a list of insurance companies that write policies through NFIP.

Hey Steve - Thanks for the comprehensive advice.I'm trying to get to 20 units by end of year.

A resident had a small kitchen fire in late December that would absolutely be covered by renters insurance, but she apparently let her coverage lapse in October.

The premium on that coverage is less than the cost of forming the LLC and the ongoing expense of renewal and tax filing.Best of luck!

@George BlowerGeorge, that is quite a comprehensive assessment. 

Many policies lapse or won’t honor coverage after 30 or 60 days of vacancy.  

There should be no issues with insurance coverages since it was permitted at the time it was installed.  

I haven’t used Naborly myself so I can’t speak to it but I looked at a sample report on the Naborly site today and it looks comprehensive.