For the past several years I've owned the same single family home as a rent that had its own liability insurance policy and I carried my own personal umbrella policy.

Make sure your insurance policy is okay with short term rentals, you don't want to have a claim denied if something happens. 

If the condo community has a bare-walls style policy you'll be insuring more items within your unit, where if the condo association has an all-in style coverage, you'll be insuring significantly less items within your unit.  

They make money on the title insurance policy as well. 

However, the bigger issue is the insurance policy on the property.

If one were to try and make a second phony one with different info on it, it would not match what is on public record and once the first and real trust is executed, filed and sent into escrow, then it is the only one that would match and thus, the responsibility of escrow and title to make sure that others are not used concurrent or shortly after the real transaction takes place.A title policy would insure any buyer of fraudulent transactions so that should also be used 100% of the time in dealing not only with land trusts, but any transfer of RE title.

You should also get an umbrella insurance policy.

My clients had the same relationship with me as they would've had with any other accountant except, I had an excellent E&O policy and an A+ tax education program behind me.

When you accept their title company, and therefore their title insurance policy, you may be accepting exclusions to title which would render the property insurable but not marketable, leaving you with a property you can't sell.

Next week in Georgia I expect to drive at least 100 properties before making any offers.As a matter of policy, we don't accept offers from buyers who don't inspect first.This works for me!