Also, have your family member review there own renters insurance policy to see if there is any help there.  

I just don't see any reasons throwing money into the policy where chunk of it goes to pay high commissions, those funds should be directed into a real investment instead.I would suggest you connect with @Dave Van Horn, he is an expert in notes and has great reputation.  

Trying to dissect someone else's policies and procedures typically doesn't work very well.     

Contact a local insurance agent that writes policies for ASI (American Strategic Insurance).  

That is a big deal in Minnesota right now, and border states tend to have similar policies.  

@Shmuel Harris I treated it just like any other tenancy, gave them all my policies, and held everyone to them.  

Have clear cut policies when you sign a lease and stick to your policies no matter what. 

being a home inspector, i see the value in hiring a home inspection done. its cheap enough and may save you thousands in the future, might steer you away from a flip that would be a flop, and gives you a lot of information to make a lowball offer on a house. kind of like a cheap insurance policy i would say. most inspectors, like myself, would do a simple inspection for you on a flip house, maybe not a full value inspection, but at least a good look over at a discounted price that gives you a general overview of what you are looking at. its worth the price. 

I happened to know the asset manager, so he was more forthcoming with me than he would be otherwise: the bank went through three rounds of remediation, spending a total of $87,000 to remediate the soil.There was a company in CT that removed oil tanks for a flat fee of $18,000 and that included an "insurance policy" that if it leaked, they would remediate at no additional cost.

Minimize the hazard insurance by comparison shopping your insurance policy.