And I agree; house hacking would be a great start for you to learn property management, the tenant process, and help supplement expenses to some degree.

@James Spevak best option is a cash out refi under an LLC with a debt coverage ratio loan.

This policy will cover the existing structure in addition to coverage to the improvements you are making to the building. 

“We don’t do much look at a borrowers ROI for rental property, we mostly are concerned with debt service coverage, which is how net cash flow you have compared to debt payments.

Establish a relationship with a DSCR lender (debt service coverage ratio), and get the approval ahead of time then start hunting deals.

Thanks  Definitely full replacement cost with at least 1 million liability and loss of rents coverage.

. :)Cash flow is the money after piti only My definition of cash flow is the cash after allocating for all expenses (PM, Maintenance/cap ex, PITI, vacancy/turnover, office (portion of phone, printer, office space, IT, internet, etc), misc (portion of LLC, umbrella coverage, mileage, unexpected utilities due to issue at property (example slab leak), etc.). 

Second Patricia's comment above - Visio can do this without a problem, and the appraiser will take into account short term rental rate info from AirDNA to qualify the unit's debt service coverage ratio.

Any help or suggestions for a reputable insurance company where I can find coverage for that area would be greatly appreciated.

I have a sewer water backup coverage.