If you did not have an existing policy, the correct way to write this would be with the new owner as the first named insured.  

For your next step, you might want to look into seller carry arrangements and joint ventures.

The state tax is much lower than California and I haven't had to pay state income tax in Indiana on the rental income I'm getting, I'm closing on another SFH next week in Indianapolis, different county and property taxes are lower.

You may need the money the day of the sale or even up front in some locations , while you may not get the lien or deed for 30+60 days after the sale. 

We're hoping that there will be more listings coming online here in the next month or so.

Over the years the only place I have lost money is the stock market.

we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

Our HOA is considering buying the lease so that the entire condo will become fee simple.

I manage 400 rentals and have only evicted one tenant through court in the last ten years.

It takes time to identify these properties  and often requires physical observation, not merely sitting behind a computer scanning through property listings, but they are out there.