It's obvious it has happened to them before with a previous client.All I say is let common sense prevail in these situations.I am sorry to hear you are having this experience.Many insurance companies won't write insurance policies on these really older homes unless documentation has been shown that all major electrical,plumbing,rood,etc. has been replaced.The insurance company knows just like you are experiencing that if they are not replaced repair after repair will drain them dry in payouts.

If you're buying private money, all you really have to wait on is a title insurance policy from the title company.

I plan on holding title to my investment property(s) with an LLC, and I will likely purchase an Umbrella policy to boot.

I agree that you shouldn't skimp on insurance, though, since they can go after the LLC after the maximum liability limit is reached on the insurance policy.

Fires, controlling the borders, etc....yes...blanket, one-size-fits-all policies for the masses...no.

I'm sure you realize that financial experts are not the administration nor are they actually part of the media and that financial experts have occasionally been wrong in the past.The second link you provided is titled, "Obama sees US economy moving from recession to recovery" and neither of these articles confirm your original claim that the media or the administration are saying, "that the recession is over" but you certainly knew that.If it makes a difference to you, I did not vote for the president, I do not support a lot of the policies this administration is implementing but I am willing to give it a chance, because, in the final analysis, that is what we are going to have to do, isn't it?

But he's referring to their policy and not the law.

I don't know if I can just get a normal landlord's insurance policy, or if I should get a builder's risk or vacancy (I don't know if there's a difference between those two) policy from a company like Foremost.

Perhaps it's just an insurance policy for yourself so incase a big item is required, you'll be covered.And what does it mean to "cash flow $200 a month".

A policy to cover it is important.