I just purchased the home 2 months ago and wanted to know if I am responsible for the prior owners fines? 

You may have coverage in your policy under "Extra Expense".  

Currently there is one unit that is being rehabbed and should be finished prior to closing.  2014 was the worst year of the last 3 years and this year most 15 or 16 of the units have been rented with One year leases.    

Our rental property insurance is with USAA, who also has our homeowner's insurance (and auto policies).In August we bought another rental property.

YOu can also deal with the rental fix and flipper who then owns their own management company.. or one's that work with one closely... there are many ways to acquire rental properties... when you buy pre rehab that can get dicy no matter the company because there are many things that need to take place prior to your earning any income. this is why the public and the Marketers of turn key generally want tenant in place on a fresh rehab property  it gives investor cash flow from time of  closing..

One way is to get your lender to "unapprove" you prior to closing.

I wanted to know if any of you have suggestions on what to look for and the things an Apartment Owners Insurance policy should include.   

Once the late fee has been received prior to our court date, then I will call the court and file a Dismissal, due to your account now being paid in full, but not until then. 

Scenario Analysis IRR in "Business-as-Usual" scenarioIRR in early repaymentSalvage value in case of foreclosure – State FC remediation policies, FC cost & timings, LTV, FC types allowed in state, REO sale discount rate, holding costs (taxes, HOA, insurance, …)Is this list missing areas or issues that need to be examined?

There have been Heroin addicts that say cigarettes are harder to quit than smack, but then there is people like my old boss who would smoke a pack a day consistently then just decide 1 day to quit for 3-6 months like it was nothing.What I will say is that I think your policy is too strict for someone who is desperate to rent, it would be fine if you had candidates beating down your doors to get this place but that does not seem to be the case.