Actual cash value landlord policy for 5-unit

[adjusterjack]

I don't know the basis for the replacement cost they use but it is not at all in line with my experience. It could be that since I am real estate professional and I have established relationships with trades and discounts on material purchases I can do it for less.

Same here. But you and I are in the minority. Insurance rates and coverage requirements are based on the needs of the majority. We are likely stuck with those requirements.

They should be under a commercial policy since it is obvious that you own many buildings and are in it as a business

While that may be true, it won't change the underwriting requirements as to the amount of building coverage. The Commercial Property forms have co-insurance penalties for being underinsured.