The insurance for a rental is different than a home owner's policy and usually a lot less as it doesn't cover contents (aside from appliances if they are yours).

*But*, the insurance company will pay the IRA LLC owner a 15% commission on the insurance policy!!!  

@Claudia Starr i have a $2 M umbrella policy for about $400 a year

At fault to date is: Management company only - depending on its policy to determine that the vehicle is definitely parked illegally.Hair Salon has no liability as its not responsible for parking issues, it seems extreme to ask the hair salon to notify their Mercedes Benz owning customers to park their vehicle elsewhere, unless they have had multiple Mercedes Benz owning clients whose vehicles were towed from the property. 

A policy I learned from my father is never say no to tenant requests, rather say how much.

For non owner occ real estate, the more favorable math of using the income to wipe out the PITI, and adding what's left (net positive cashflow) to the income column, is what Fannie requires. 

Specifically, the homeowners insurance policy would need to be in my name as the deed holder, but that is part of the existing PITI payment.

Also he mentioned the insurance on this new car was only $290/yr for full coverage added on his policy. 

After years of loose monetary policy, financial conditions have started to tighten again.

Instead, get yourself landlord insurance and an umbrella policy.