I called EVERY insurance company (that I know of), and they all said if business is conducted on the property, they do not cover.

If you’re not interested in managing it interview a few property management companies and pick the best to manage it for you so you don’t have to deal with maintenance and tenant issues.

It sounds like you're working with corporate housing placements so are you signing the lease with individuals or with the company itself?

The reality is, in this market if you're trying to do reno's from out of state you're going to want to go through one of the larger property management companies.

Which company should I use for direct mailing?

And could you recommend a good umbrella company (or an insurance broker who specializes in umbrella)?  

I was told by a coworker who owns a property there and he says he has a management company who does everything and hands off and after all expenses are paid, he nets between 2000 to 2500 per month in Tampa FL. 

BUT, some companies will still pay dividends on the cash value securing the loan and some won't.

I have spoken to several companies that do large scale syndications but i don't think they are quite the same thing as what i'm looking to do. 

If the interior damage is to the Contents, the policy may not include coverage for things that are not permanently attached to the building.If you have the Declaration page, it should show the Insurance Company.