There are some that will write it but some of them will exclude coverage for it. 

Since the premium for a title policy is based on the amount of insurance it provides and since a policy with a zero amount of insurance effectively provides no coverage, I doubt any title underwriter would agree to have it's policy issued that way.

I provide strong renter insurance, $5,000 in accidental pet damage coverage, free evictions plus up to one month of lost rent, $10,000 in bed bug coverage, online rent payments, the best application screening service in the county, not a single lost eviction, a network of responsive vendors, professional inspection reports with 360-degree photos published on the owner portal, and so on.Most property managers charge 10% "because that's the going rate" but they can't explain/justify their charge or show how they differentiate their services from the competition.

@Tim Park It sounds like you are off to a great start by asking a lot of smart questions and working to put together a comprehensive plan! 

Check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

If you do that and have a decent debt service coverage ratio going in, you'll withstand market fluctuations and build up equity quick also.

Some common metrics investors look at are cash flow, cash on cash returns, cap rates, annualized returns, internal rate of returns (IRR), equity multiples, debt service coverage ratios, the 1% (2%) rule, and the 50% rule. 

I haven't heard of this except before the market crashed in 08.Shawna,Sorry I missed this one and didn't reply in a timely manner.A DSCR loan (debt service coverage ratio) is a very popular alternative to conventional financing. 

If you have “Replacement Cost”(RC) coverage on the Building, the company will not pay the full amount until you rebuild.  

@Mike Shemp Check with your insurance agent and let them know you have a fire pit just to make sure your coverage will handle that.