Most of the claims were the result of either the examiner not knowing how to properly examine the title  or because the seller and the title agent were owned by the same people and somehow a glaring defect was "overlooked". 

You have to make sure they are trustworthy, and vet them properly.

My friend then made a deal with his business partner to lend me the money privately with a 1 year balloon payment so that I could buy time to refinance and get a proper mortgage on the property.

I'd argue the opposite -- if the city was smart they would properly tax those rehabbed neighborhoods.

Like Dillon, its hard to tell what they have done, but the equipment is never going to operate properly as left from the previous company.  

. - Foremost ($2650)- Tower Hill ($1100)- Proper ($3900)- Travelers ($2500)- American Modern ($1350)Thanks in advance for your input.

Hi @James Hunt, for this very reason (and a few other good ones) I let an insurance broker I know, like, and trust do this heavy lifting. 

Also, what techniques would you use to see if the flip was actually done properly and professionally and that corners were not cut that can be costly in the future?  

I do not plan on renewing them but want to make sure I am giving the proper notice. 

This will check the box for funding the double-close properly (if 'dry closing' is not an option) -- but you'll need to account for that in your math for how the deal pencils out.