DSCR (Debt Service Coverage Ratio) Loan

Do you get coverage for what the portfolio is worth or for how much someone can potentially sue you for?

How much renters insurance coverage do you all recommend tenants have for bodily injury and property damage?  

Both are two different tools of asset protection that are not exclusive.Liability insurance covers you financially up to the policy limit (if the insurance does not deny you coverage based on their many exclusion clauses).LLC are used to insulate your assets in different boxes to avoid propagation of liability from one box to the other.

Or just ensure you have the proper flood insurance coverage.

There are few different alternative income programs, not sure which one applies to you, there is 12 months bank deposits average, No Ratio, Asset Depletion and DSC (debt service coverage). 80% max LTV on all

It is doubtful if you were an owner you would have that same coverage, so yes, you would just be out of pocket.HOWEVER, meter sockets do not typically fail overnight.

Depreciation allows you to recover the cost of the property over time by deducting a portion of the property's value each year.Mortgage interest: If you have a mortgage on the property, you can typically deduct the interest paid on that mortgage.Legal and professional fees: Fees related to the management of your rental property, such as those paid to attorneys, accountants, or other professionals, may be deductible.Commissions: If you paid any commissions to brokers or agents for securing tenants or negotiating lease terms, you might be able to deduct these expenses.Advertising: Costs associated with advertising your property for rent could be deductible.Travel expenses: If you need to travel to manage your rental property, you might be able to deduct some or all of your travel expenses.Home office expenses: If you use a portion of your home exclusively for managing your rental properties, you may be able to claim a home office deduction.Insurance premiums: Although the tenant typically covers insurance in a NNN lease, if you have any additional insurance coverage related to your rental property, those premiums may be deductible.Utilities and services: In some cases, the landlord may still be responsible for certain utilities or services, such as common area maintenance.

Insurance language is always about coverage amount (replacement cost) and level of liabilities on the property. 

Would that coverage be considered Business Liability Insurance as well or would we need two types of coverage for protection?