I am seeing a different insurance issue.  

I will insure the property as a non-owner occupant. 

Using your ratio that leave 13.38% for pm, insurance, maintenance/cap ex.  

Be sure you consult your agreements with them as well to determine if there is some other action you are responsible for.You may also want to contact your insurance to find out if and when they may step in and do something.

So on numerous occasions, I have expressed my concerns about staying within my budget.Now on top of this, the property manager let the pipes freeze and they leaked and the boiler also cracked which I was told to file an insurance claim.

Second, the insurance is $1.5k which seems to be low as well. 

However, a different niche such as insurance placements, might very well be in the 70%~ occupancy level but the rents are going to be so much higher that the occupancy rate (comparatively speaking) is irrelevant.

He had insurance on the S-Corp for one million and none for himself.

No longer can buyers underwrite to $1,000/unit payroll and $250/unit insurance expense. 

Corporate Income Tax are 24%, however banks and insurances companies are higher with an additional 3.5% Mortgage in ItalyIt's also important to note that there are no Mortgage companies here, everything is done with 1 of the very few banks here.