I remember hearing that its not always the best way to calculate value. 

Just remember that property and casualty insurance is almost always written on what's called a "per occurrence" form. 

You could put more down if necessary to make the numbers work but remember, leverage.  

I remember buying a 7-unit building in '05 for $345k and the min insurance replacement was $800k. 

Regardless of the channel that you find this tenant through make sure you sign an airtight lease (remember that any stay over 30 days will trigger "tenant rights" laws in most stays).

I thought about paying for one once then I remembered I can use a telephone myself and call my own handymen lawn care guy and plumber and life was good since 

Remember that any rent a tenant pays in advance doesn’t automatically become a landlord’s money.

Remember you don't have to own a property to control it.

", clearly in this case they took the cheapest course of action.Always remember when dealing with insurance, that while it may be in their best interest to agree with you and even provide legal representation, when they perceive it's cheaper to do differently, they absolutely will.  

Expect to pay about $3600 or so on all the appraisals (assuming all are investment properties).If I remember correctly, you said you had excellent credit before, You may even have an option for all conventional financing with a bank who'll do more than the 4 financed properties.