Just make sure that it's structured correctly to minimize the premium and maxmize the cash value.  

The policy has high deductibles and the premiums aren't cheap.

Have gone under contract on a couple heavy rehab MFRs, but had to walk because sellers were demanding a premium for what is essentially one step up from a dumpster fire. 

I just helped my friend purchase cabin in Idyllwild and they had no problems obtaining home insurance and the premiums were not outrageous.I like Borrego Springs.

Have an agent quote you at several different deductibles just to see what the premium does.

Since this is my first fix and flip financing is at a premium (see terms below).

If you do choose to realize you are one of the few landlords that do and can charge a premium not just in the deposit but pet rent as well.  

If you are going the route of engaging a GC (general contractor) to provide a turn-key option, then you are relying on them to make decisions in these areas to complete your project for what they perceive as your expectations (not always correct) but is a nice option if you are looking for a hassle free (relatively) process... but it comes with a premium in my experience.

You're paying a premium for huge growth potential, but you're going to need to put up with a lot meanwhile.

Seems like this landlord paid a heavy price for a situation that they were not a party toEnlightening anyone who 1.) is a landlord and 2.) a premium member on a website about extractive wealth accumulation is too tall of an order.