This would, however, eliminate customer retention risk, employee risk, and large amount of debt obligation.

Ask your insurance agent about an umbrella insurance policy.

I don't know what insurance rates are like around your area but you may want to peak at that as well.

No one here has read your attorney drafted contract and so any answers as to your obligations under the contract will be of little use.

They seem attractive in the sense that they are self sustained, required to be cleaned by guests, and very minimal/no utilities (depending on how fancy you go)   How do you get insurance for these properties?

good afternoondoes anyone currently have homeowners insurance for a 4 family property and if so who is the agent and or the insurance company. i have a 4 family in north new jersey and want to find an agent / insurance company for cost comparisons. appreciate any feedback or help from anyone.thanks and have a good weekend

How about the $20 million lawsuit the Hoa lost that has $2 million in insurance.

Owner is trying to sell since he is older and looking to retire. 100% occupied with leases through December of 2018-Purchase price: $105,000-Monthly rent: $2250-Annual Tax: $1154($96.00monthly)-Annual Insurance: $ 1275( $106 monthly) -Property Management : 8% $180.00 monthly-Rents are currently about 10% below market value. 

"Better" is not insurance jargon.  

If you are serious about going after the property at sheriff sale you should really consider getting a full title search done and have it reviewed to make sure you can get the title insured.