I have a duplex I own free and clear, and just need some additional money to finish rehab. I want short-term money, 6 months max, loan amt $50K, with property as collateral. I just had it appraised, and that came in a...

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.

Here is the timeline of events so you can see how long it took:12/10 Inspection and draw documents filled out, signed, sent.

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. 

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).

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?

John keep in mind that is insurance companies paying for the new builds.. free market is not that high