after 6% interest on my heloc and the conventional mortgage, realtors, closing costs, insurance and the rehab...

Here are the stats: Construction costs - $50,000 Purchase Price - $225,000 Current Appraisal Value - $375,000 Post Construction AV - $440,000Current Loan Amount - 195,000 Rental Income - $2,800 Mortgage + Taxes + Insurance - $1650 Liquid Cash - $10,000My partners and I want to get the remaining projects off our plate and are trying to figure out the best way to make it happen.

Here are the stats: Construction costs - $50,000 Purchase Price - $225,000 Current Appraisal Value - $375,000 Post Construction AV - $440,000Current Loan Amount - 195,000 Rental Income - $2,800 Mortgage + Taxes + Insurance - $1650 Liquid Cash - $10,000 My partners and I want to get the remaining projects off our plate and are trying to figure out the best way to make it happen.

They are going to have to wait several months and maybe years until their insurance claims get straightened out and they receive money to rebuild. 

Numbers are as follows:Purchase price - $185,000Rental income - $1,850 ($750, $750, $350)Insurance - $109/MoTaxes - $209/moCap ex - $185/moUtilities - $200moMaintenance- $185/ MoI feel confident the rents could go up to a total of $2350/Mo but current leases do not run out for another 6 months.

For me, that makes life easy because I don't have to negotiate commission with you (since its paid by the seller), you won't need the hand holding of a first time buyer, and you are someone who will buy and may likely buy multiple times.

If you hire a contractor who is bonded and insured through a policy issued by a local insurance agency, what is covered?.....

I have fair rental value coverage in my insurance policy, but I don't know if it will apply since the tree didn't fall on a covered structure.  

I would certainly do that if it made financial and/or life sense. 

Don't buy so much house/duplex that you can't have a life and continue to save money.