It typically covers the structure under construction, materials, and equipment on-site, in transit, or stored elsewhere.

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

You would  then alert your insurance to it and it will go up but you would be covered. 

Multi Family is much more heavy on the income numbers.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time. 

I've argued for this and the powers-that-be do have a good argument that they are still active just in other ways, how to cover labor and actions during that, etc..

The primary requirement is that the expected rent would cover the mortgage on the home - and that expected rent is typically determined by a combination of the appraiser and some service like airdna (a site which determines fair market rent).

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.