Insurance-  replacement costs.  

Make sure to provide clear disclosures to the seller about the risks involved, especially regarding the existing mortgage staying in their name.Insurance Considerations – You’ll need to work with an insurance agent who understands sub-to deals, as the lender might require a policy that keeps the seller as the named insured.Due-On-Sale Clause – While banks rarely call loans due, it’s still a possibility.

I live in Fl. where insurance is pretty costly but I am also investing in states where insurance seems less expensive.

Workers’ compensation insurance is mandatory if you have employees.

Make sure pool is listed on your insurance policy.

As Shawn mentioned above insurance is going to be a HUGE deal in Gainesville as well as HOA's.

Steadily is an MGA and they also act as an insurance agency.  

If the lienor failed to follow the statutory requirements to perfect the lien, the title insurer will probably advise the management company of the problem and request they record a release. 

@Fetch PhoenixI'll add something that may apply....your current policy may already exclude wind and/or fire, which means that you could already be without protection. 

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.