It's the best insurance policy you will have. 

Part of my loan requirement years ago for a strip center I was building was a life insurance policy with the bank as beneficiary.

(Ben Graham's "The Intelligent Investor" is perhaps the best volume on the subject), and I'll suggest that the core "value investing" philosophy is a direct corollary to the REI adage of "you make money when you buy, not when you sell", in that you make your money when you buy a stock when its undervalued and includes a sufficient "margin of safety" (itself the analog of a lender capping their exposure based on LTV).Patience, prudence, curiosity, and a desire to learn are hallmarks of a successful investor in any domain, and I'm with you in that I'll keep doing both :)

I don't want to over extend my bank is 75%loan to value so there is a safety net there .....

@Tim Roberts I can send you some examples of multistate portfolios I have done for investors in the last few months.I think you will find there are very competitive insurance programs for the CA properties, but they are only available for CA properties.IL & CO are a little easier to combine onto 1 policy while keeping the premium competative, but the hail and wind issues in CO may make sense to break them out again into separate policies.

I've called most of the major insurance companies about this place and told them the plan and they refuse to write that kind of policy.

Your one safety net is a double close.

What's your policy for late payment?

Inform the tenants of the pending change stating it is your policy to review rent amounts annually and make adjustments based on the market. 

(never stop negotiating - ask for buyer incentives - the furniture, car in garage, money back at settlement, possession - delayed settlement - subject to existing financing - offer a hybrid arrangement, financing secured by other property, no interest mortgage - split note financing - re-fi for take over/assumption)Always consider second stage negotiations for price reduction (give good reasons - exposed repairs after inspection - other issues found)Use safety contingent clauses in the event 3rd party assignee is not locatedSince you are doing your due diligence this target building - you should look for expired listing in the area and make offers on them also.