Landlord insurance is also referred to as a 'dwelling policy,' the same as homeowner's insurance with respect to dwelling, other structures, liability, and medical payments coverage but differs in that personal property is not typically included, and loss-of-use coverage (also known as loss-of-rent or fair rental value) reimburses you for lost rental income if the home is damaged and undergoing repairs, landlord insurance costs on average about 25% more than a standard homeowner's insurance policy DP-1 Policy: 'Dwelling-fire form 1' is the most basic option for landlords, these are named peril policies (covers 10 perils) meaning you are only covered for the perils listed in the policy, an actual cash value (ACV) policy meaning if the home is damaged you are only reimbursed for the depreciated rebuild value of the property DP-2 Policy: 'Dwelling-fire form 2' provides broader named peril coverage (covers 16 perils) and replacement cost coverage (RCV) for your property, this means that if the tenant burns the building down depreciation is not factored into the building's rebuild cost, also includes loss-of-rent coverage (for around 30 days) which provides supplemental rental income while the rental property is being repaired due to damage from a covered hazard DP-3 Policy: 'Dwelling-fire form 3' are "all-risk" or open peril policies meaning the property has replacement cost coverage for every peril not specifically mentioned, also included is loss-of-rent coverage, these are also used to insure non-owner occupied homes and vacant properties (vacant building policy)These are the notes that I took when I was researching the topic for myself.

Just today in the forums I've seen tag lines from at least 5 different well respected QI firms who operate nationally.  

Pretty crazy game/series, but much respect to Cleveland for doing the impossible.

The other major thing to distinguish various towns' programs is their respective appreciation rules - while Boston's 5% per year is very generous and allows folks to build wealth quickly, other towns favor keeping the costs lower indefinitely, and will dictate a TBD cost of living adjustment when you sell.

If they have so little concern for their own health and life, how much respect will they give my property?

Ideally, you want a B/C property to upgrade in a A/B area respectively.

With all due respect to those with another view, which may serve them well, it's not just about access to the MLS.

For cap ex, you can create a spreadsheet for all the building components, their cost to replace and divide each by their respective lives to estimate monthly/yearly cap ex.  

The ARV  is going to be over $400K and $1.9million respectively.

@Brian Gibbons your advice  above refreshingly sounds like the material I have been learning so far with respect to low equity houses/lease option, I have a friend in mind in that motivated seller kind of situation.