But you need to make sure you are complying with the NH requirements.If you have a mortgage on it, the due on sale clause will be a bigger issue, because you will need to switch to business insurance (your current insurance won't insure you if you own in an LLC), and the mortgage company will be notified of the new insurance policy with a different named insured.  

Some of which include:Debt ServiceInsurance (proper STR insurance - not a standard fire policy)Taxes (both normal property and STR taxes)VacancyCAPEXElectricity, Cable, InternetFurnitureSheets, towels, etcCleaning/maintenance Gardening/lawn-care Etc.Im sure I missed a few - but you get the point.

is there an insurance policy for that? 

In my market, we aim for $5,000, but often get some contribution from the seller.Look at this site to see if you can find an eligible area that you would live in. https://eligibility.sc.egov.usda.gov/eligibility/w...

check YOUR insurance policy.

@Penny Clark I'm sure their lease had some atty write some UNENFORCEABLE policy requiring they have to use THEIR forms, but I don't see in ANY WAY how that can be held up.

Found a local Bank....Mansfield Community Bank, willing to give a Line of Credit at 70% LTV and charging Prime +2. 1% origination plus appraisals and Title policy.$500k LOC secured by 5 properties.I had originally contacted a broker that wanted to charge me $28k to originate the LOC....Mansfield did it for $11k

Most Dwelling Fire Policies max out at $500,000. 

I suggest you complete your degree and aim to obtain the highest-paying job you can after you graduate.  

You may want to look into an insurance policy for yourself since you will be the responsible/liable party here, because what happens if some airbnb renter trashes the place, doesn't pay properly, steals something, it stays vacant, etc...