I'll need to decide if I want to take on that kind of project/headache/risk.

Clauses used in managing the risk could be:- Additional Insured Status for you on their policy- 30 day notice of cancellation of any of the policies- That their policies be Primary and Non-Contributory- That their company Waives Subrogation against you- That they indemnify and hold you harmlessA good Commercial Insurance agent may be able to help locate companies that specialize in insuring that type of business.  

Are you wanting low-risk with lower returns or the opposite?

This is dumb if you think about it in depth.... you're creating a LLC to reduce risk right?

The hard thing starting out is that you can take a risk with these guys or pay retail plus and go with a household (bp) known outfit.

If it isn’t clearly on your property, you shouldn’t have to pay for it bit I’d also weigh the risk of having it fall and doing major damage versus just chipping in a bit to get it handled before any damage is done.

You want a good title, which you may not get chasing these deals.In Md there there is  a big fine and jail time for doing what you want to do.Be careful, it ain't worth the risk.

I have certainly watched many areas de gentrify so yes there is always that risk.  

If you are 100% sure you've found "it" then I could make the argument that getting cheap money today is better than risking interest rates rising over the next 5+ years.  

Some have the risk tolerance and invest in NYC and are getting the appreciation.Are you familiar with any areas that cash-flow well?