Insurance on a MFH? New Investor

[Lincoln Waite]

Frustrated, and depressed new investor needing help from someone much more knowledgeable and experienced.

I'm sorry if my tone comes across as hostile, as I am frustrated. I keep getting a run around with insurance.  The agent tells me, you need to have all your tenants to get coverage, but I can't get tenants until I get the insurance to go forward with the mortgage. 

Help! I don't know what to do. I was referred to other agents and they keep giving me the same thing. You need occupants in your rental or something else.

If anyone can please point me in the right direction, I would be very, very thankful!

If you need any information, please ask or send a message. 

[Liron Cohen]

Quote from @Lincoln Waite:

Frustrated, and depressed new investor needing help from someone much more knowledgeable and experienced.

I'm sorry if my tone comes across as hostile, as I am frustrated. I keep getting a run around with insurance.  The agent tells me, you need to have all your tenants to get coverage, but I can't get tenants until I get the insurance to go forward with the mortgage. 

Help! I don't know what to do. I was referred to other agents and they keep giving me the same thing. You need occupants in your rental or something else.

If anyone can please point me in the right direction, I would be very, very thankful!

If you need any information, please ask or send a message. 

 Hi Lincoln, I am an insurance broker in several states so I can understand where they, as well as where you, are coming from. 

Basically the situation is because the property is vacant, or at least it's rented out for some % below 80% occupied or whichever metric those particular companies might use, that the insurance companies will not want to touch it with a regular commercial landlord policy. What you'll need to do is basically find insurance for a vacant apartment building, and once everything is rented out, you switch it over to a regular commercial landlord policy.

Edit: You can either do what I said above, or you can find an agent that deals with non-standard markets that will find you a carrier that is okay with the property being less than 80% occupied. This will cost a good bit more, but you can always re-quote a few months into the policy once fully occupied.