The procedure is they have the contractor fill out 2 forms, they send an inspector to make sure the work is done (to some standard, I would guess), approve it, send me the money, and I send it to my contractor.

I'm the type of person who likes to standardize everything.

If you buy a home from a homeowner who is living in the home, is there a standard amount of time for them to be allowed to live there before vacating, while they look for another place to live and move there?

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).

Any local banks in Texas I've talked to have quoted 20 year am, and when pressed, state that that's 'standard for commercial' so yes, your 30 year am is great, and probably makes it more worth it for that higher int rate. 

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

Aside from the standard rent collection, land-lording, and other typical PM duties, im looking for a company that can assist with market analysis and acquisition due diligence. 

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

The name that kept coming up is Memphis Invest, since many people seemingly view them as the gold standard in the turnkey space.