I understand it hurts to provide bad tenants money, however it will resolve the problem quicker and remove this frustration from your life, which I'm sure is worth a couple thousand dollars. 

I can provide you with insights and advice on how to get started in real estate investing.

In addition to many insurance providers pulling out of the state of Florida, we heard of big insurance issues in coastal cities in South Carolina, Georgia, etc.

Anybody have experience using Brian Page’s BnB Formula program and can provide their review of it?

Development can absolutely provide great returns.

I took a loan against myself to help provide reserves as asked for by my lender and paid it back to myself relatively quickly. 

It comes down to setting expectations; did any of the applicants provide specific, detailed reasoning for backing out? 

These are more complex legal structures that can provide even more protection than a traditional LLC alone.

Some idea's- wholesaling, structuring a seller/creative finance deal, or finding a deal then finding a partner with funding then offer to provide the management and grunt labor for a small slice of equity (10% of a deal is better than 100% of no deal). 

In fact, your insurance provider can give you guidance on all these limits.$500 seems low for a pet.