Does this impact their tax abatement policy?  

Go ahead and make it an insured transaction with owners policy so that you know about anything else attaching to the property, the correct outstanding balance, etc. 

Once you make your first purchase add a $1M liability policy.

You do want an insurance policy.

Talked to the security company for the HOA to ask if they had any special policies or procedures.  

Do you have an umbrella policy which kicks in above your policy on a particular property (usually above 500K).

Then they is the lenders policy on the release of funds at the sale.  

Oh, also, insurance for these is only offered by a very limited number of providers - the most common policy is a renter's policy, which will not cover the structure burning to the ground or flooding.

Elisa Zheng , while I buy in my LLCs, I know 25+yr investors who buy in personal names with $1mil-$5mm umbrella policies.I am even thinking about adding an umbrella policy on top of the LLC protection.Think of asset protection as layers of an onion.

I wrote a late policy that I felt was pretty generous-- max 4 lates per year, max 3 lates in a row, max 2 quit or pays.