There are often hidden costs--such as: engineer certification of the structure (depending on what the city requires) smoke damage to portions of the unit(s) that are "not affected" additional insurance during the rebuild, sealing the framing that has smoke, etc. 

Kansas City is one of the best cash flow markets in the country due to affordable prices, strong rents and reasonable property taxes and insurance.

At the end of due diligence adjustments we proceed to a P&S with a 2nd deposit.While it's theoretically possible to close from the offer (without a P&S), it's just not done here.You should also get your contracts from an attorney instead of a REIA. 

We do a walk through within hours of closing and do a hold-back of funds to cure any defects like trash out or eviction.If the parties agree that the seller can stay for a period of time, we execute a "use and occupancy" agreement that details the per diem cost, utilities, insurance, etc. 

You can proceed with the eviction, but the Sheriff will not remove anyone when it's cold. 

As I am shopping for insurance, I can't help but ask myself, "what is adequate coverage for my owner occupied, 3 family home?".

I have seen those with one investment property close in their own name, for cheaper, and get an insurance policy that was more than ample to protect from loss (eg. $1 million policy).

If this deal is debt constrained, a 25 yr am will change your loan proceeds (your down payment will need to be more to meet the DSCR) considerably.

So even though I have business and property insurance, I still keep a 5 mil personal umbrella.....

Have you confirmed insurance and taxes with an agent and the town?