It’s probably a better deal to buy an umbrella policy and lower the building liability to 300 or $500k (whichever is required by the umbrella company).You are more likely to hurt someone personally than your building is. 

I haven't had a great experience with my property management company and they've quoted ~$60k to bring the property back to rental condition.

Their insurance company will fight it to the death.The landlord has no reason to believe that the design is faulty and could injure someone.

If you need someone to talk to about this, I can give you the contact of my title company who can give you better insight.

Are your draw inspections performed in-house or by an outside inspection company?

Could also hire a good STR company that can market the property better, price strategically, and offer better guest experience since the owner emotions are moved, which in turn ups the revenue. 

Hello,Have hired a property management company 1 year back .

Hi all- We closed on our first STR literally one week ago and today I was informed by my insurance agent that our homeowners insurance company cancelled our coverage because in their words "A HOME/DWELLING RENTED LESS THAN WEEKLY IS INELIGIBLE FOR COVERAGE."

I went a different route, got my real estate license, and went to work for one of the largest wholesaling companies and learned everything from there!

Currently I have a traditional IRA in my Fidelity account sitting in cash that I would like to use to invest in a cre syndication or maybe a note or debt fund... but first I would need transfer funds into a self directed IRA with a company like Equity Trust.