Should they be insured?

You can not put a standard over the stove microwave in with the existing cabinet.  

It's a standard cosmetic fixer because it has great windows, brick home, brand new roof and new water heater. 

They say its a federal standard..

I’m closing on my first investment property in 2 weeks and I need to decide on what insurance im going with.

The second exception is really just a specific extension of the first.The (standard) lease we use covers the dwelling, the grounds, and any outbuildings such as a detached garage or a shed.

Get's very messy that's why everything is always run through realtors.Knob and Tube not a big issue I have homes that are insured and have this electrical wiring.

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.

You can find schedule hereI never bought a PHA property but foreclosure is pretty standard.