The main issue I think you are going to have if you move forward with this property is the only insurer that will take a property that has had a recent loss is the (National Flood Insurance Program) NFIP or government program (What is the NFIP?). 

Show license, insurance.

@Jacob Breazile - Make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance Property Hazard InsuranceFlood InsuranceEarthquake InsuranceUmbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) Water § Sewer § GarbageElectricityNatural GasPropane9) General Maintenance (usually 5%) Upkeep § LandscapingSnow removalRepairsNew Appliances10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.)

I manage vacation rental homes in Charlotte area, and I recommend you have the following:House specific cleaning checklist per home w/condition section for cleaner to fill outHouse specific house info sheetsHouse specific check out checklist per homeIf you get these three documents done well, this will cover the majority of questions that arise from guests and problems with the property that arise before and after they check out.

For low income neighborhoods, I prefer SEC 8 which is essentially an insurance program for the landlord that ensures they will get the rent, even if the tenant loses their job.

Good morning BP, Looking for different examples and advice as to how property managers handle the payments of taxes/insurance/utilities for property owners?

there is a loan disclosure at the bottom of the CD that reads escrow account: $5277.03 says right next to it estimated total amount over 1 year escrowed property cost:Property taxes, homeowners insurance. mortgage insurance.

Documents from WILegalBlank.com is great for this.  

What does landlord insurance cover if you're investing in an apartment building with 100 + units?

However, I'm a little confused as to what type of insurance I'd need?