But home insurance is very expensive in this state.

We just received loan document for refinancing our commercial loan that we do not want to sign, 10 years loan.

What kind of insurance should I get?

No....you typically sign a document at closing that says if any mistakes were made, that you will participate in the rectifying of that mistake. 

Have you folks checked with your insurance company ? 

Also, you'll need to consider the property taxes and the home insurance payments.

A real estate agent can also review to let you know what is customary in your area- IE who pays for title insurance, escrow fees, etc. 

If you combine them into a commercial property, the lending rules change and financing becomes more complicated and more expensive.3) the economies of scale are the same for 3 duplexes or a 6-unit parcel.4) insurance is likely less expensive on 3 duplexes5) a valuation based on NOI may or may not be greater than 3 residential buildings.

Importantly, these companies also buy insurance to cover the cost of buying out the exiting partner.

and I have not yet asked the tenant if he got renters insurance.