Turns out I bought the property CHEAP (Thanks Bigger Pockets) and using a 5 Cap rate I stand to take $500k out of the property and completely pay off my HELOC. 

I was checking this one out from Sears https://www.searshomeservices.com/home-warranty/compare-home-warranty-plansI'm debating if it's worth it since they charge $75 a month and $100 deductible per claim up to 10K per issue with 50K annual cap. 

@Mariel Schlaefer there are markets that provide double  digit net caps. 

I think the government will get involved and are starting to get involved. https://www.kivitv.com/news/state-of-208/beverly-hills-company-moves-in-drives-rent-up-by-nearly-45-percent-for-some-boiseanshttps://idahonews.com/news/local/a-look-at-proposed-boise-housing-ordinance-here-is-what-it-means-to-localshttps://www.ktvb.com/article/news/local/boise-considering-capping-rental-application-fees-at-30/277-4cbd1a75-a6e9-4214-9fe9-bb21483d246bI suppose kudos to the company that figured out this way of making money. 

Typically you want a proposal which encompasses a fixed fee to cover all your requirements, otherwise a proposal with all hourly scope is expensive without a cap.

What are typical  ROI/CAP rates for the area? 

I'd expect a cap rate in that area to be at 7% or lower.

An umbrella policy costs less, but caps what it will protect you on/against.

What’s your cap on late fees for rent?

How do I go about giving owner an offer for his duplex although he does not have cap rate or NOI for the property.