For example, let’s say there’s a condo that is 140k with a $1000 mortgage (including HOA, expenses, taxes, insurance, etc.).

My husband still works full time by choice construction, and for health insurance. 

After all expenses(Tax, Insurance, Bank note) I’m looking at $484 being the break even.Looking to loan out $54,000 to cover buying the house, paying for the update and getting a little cash in my pocket to put towards another rent house on the same street.

Once the loan is paid off it's 8600 minus taxes, insurance, maintenance, and reserves and the rest is the profit.

Should I go by replacement cost or by market value to determine the home insurance coverage for a rental property?

Aware of insurance providers that provide that ?

What all does this type of insurance/coverage covers ? 

They are aware that publicizing transparent macro-level data enables commerce. 

I had personal friend lose 2 shopping centers in Denver during those days... insurance company foreclosed.. simply not enough rent to cover debt service and he would have to cut 250 to 350k a year checks to keep them he did that two years and folded..

Both of these people working are paid cash under the table and not big insured entities.