We made an offer based on the real value of the house (albeit well above asking with a solid appraisal coverage), but unfortunately they ended up suckering someone to pay what they wanted. 

This was with $300k of liability coverage.

They don't have their own business and to my comprehension this far, it is not as simple as just writing the individual a check from the business. 

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

They tend to be a blanket policy over your many assets and are not that expensive, usually around $300 annually for each mil of coverage. 

You can probably get some snow bird coverage through winters in your area.

TransUnion's SmartMove is comprehensive.

Solar is amazing for the power bill offsetting, with 100% solar coverage, I paid $10.42 for my city's tax power bills on the last home until I sold.

I know it's cumbersome, however this is the most comprehensive list I've seen. 

I personally use Landlord's Cashflow Analyzer Pro  (I am not an affiliate, i just think it is a very comprehensive tool).