Have started my search for landlord insurance, but I would be very interested to hear if anyone has a recommendation.

Either way good reason for me to raise rent I will add this to a list of other state/ local/ insurance related costs for my renewal notices in the spring

I used a guesstimate of 6k annual for insurance while my broker was shopping quotes.

Talk with an insurance agent to get you the correct coverage.

If you sold the land and bought something already built with national tenants and long term leases the cash flow stream tends to be more stable throughout a full cycle.  

, plus insurance, water, sewer, trash, plowing, and lawn maintenance.

Use your name and insure (liability and umbrella) to the max!

You're also going to need more expensive commercial insurance.

This isn't legal advice, and I don't have a real-world example, but some coverage issues to pay attention to might include injuries to common law employees, injuries involving liquor, and punitive damages for gross negligence.Keep in mind that umbrella insurance policies are negotiated contracts like any other insurance policy.

My goal is to replace as much of my income as possible with passive income.The property is cash flow positive.The mortgage on the property is $1303 with taxes and insurance.