I don’t believe you need to allocate more for a STR compared to a LTR, but should consider the life of the property and what expensive items might need to be replaced/age of these items such as the furnace, A/C, roof, water heater etc.

So long story short, in the past 1.5 years, we have renovated 9 of the 24 units, installed new roofs on 3 of the 6 buildings (this was known at purchase), and replaced 8 HVAC systems. 

Has anyone insured a rental property for only loss of the building without replacement?

Our understanding is that it has a single-bottom cylinder and we expected to need to make some expensive repairs or simply replace it, but we weren't sure just how soon.

I need to have my roof inspected and it is possible it is time for a replacement at my property in Austin.

Air conditioner is over 10 and for expense planning purposes we can expect to replace that within 5 years. 

I'm going to guess $4 a square foot, maybe more if the drywall skin peels off with the steaming and you must replace drywall then $6.

@Alex Ramirez, There is nothing statutorily against buying your replacement property from a related party. 

Own a SFR and the main sewer line collapses, you may pay $20K to get it replaced.

Under contract for $1,275,000, accounted for 1% closing costs, and threw in 50k for capex stuff (turnover and one of the roofs need to be replaced).