The umbrella provides an additional limit of Liability if the Liability coverage on one of your listed underlying policies (Homeowners, Auto, Dwelling Fire, Boat, Motorcycle, etc..) is exhausted in a claim.  

My attorney is filing an holdover affidavit that states “The Petitioner seeks to waive arrears which would be issued by Emergency Rental Assistance program (“ERAP”) in consideration for the ERAP stay to be vacated, and would prefer to proceed on the instant matter instead of accepting ERAP payment.”

It provides coverage if the underlying Home, Dwelling/Fire (aka Landlord), personal Auto, etc. are exhausted in a covered claim. 

A lot of the time bank owned properties are undervalued and you may have some instant equity by just fixing the couple things that might be wrong and getting utilities turned on.

You're probably looking at a zonning description and such follow HUD definitions of single family dwellings being 1-4 units.

Anyone can make money if they have 50% instant equity and cashflow on top of it.

Usually, the higher density properties are in different neighborhoods, and may have a different appeal.Also, SB9 allows 2 dwellings on an sfr zoned property and an ADU (3rd unit).

Legally converted the home to a duplex from a single family with a potentially illegal accessory dwelling unit.

Perhaps even mention it in your Instant Book confirmation message. 

Most companies will use the "Dwelling Fire" Policy for rented 1-4 family dwellings.