My business partner is a wholesaler in Fort Worth/Arlington. 

My broker assured my property manager they will receive the same coverage as before, however internet articles claim  additional insured  "is not covered by the polity for any liabilities arising out of your business.""

For an exchange, they want your intent to be that you hold the property for long-term business or investment use (for both the property you sell and the property you buy).  

But, then again, our business is so engrained in using their product that it would be hard to leave them... 

What Insurance coverage you need to require of the Pharmacy in the lease (General Liability, Professional Liability, Environmental/Pollution Liability, Business Auto, Workers Comp., Umbrella Liability. 

The area where I dont have detailed time logs is prospecting / relationship building for my real estate business which is 100% SOI, Social media posts/stories, attending social events, networking events, friend/family events, etc.Side note...we have no kids so time to do both jobs is abundantly available.

That's the way business works. 

But figure with a growing airport and travel business in Madison that could be a great idea. 

I’ll be earning my first real estate business belt in a short while.

If I were you, I would stick to the better situated markets and if the flip model is not working, focus on different strategies until you can make it work with necessary margin (especially on your first project where there will be a learning curve).