As far as your assessment of value, the assessed value is NOTam indicator of fair market value and in Las Vegas (Clark county) normally is off by as much as 40% or more.  

Normally written contracts are strictly construed, but if they are vague or ambiguous then verbal supplements are involved and you have no knowledge of what those are.I do have some words for the advice of @John Thedford ...

I'm getting other quotes so I can compare prices I was just expecting a price for the job but what he is asking seems reasonable to me just wanted to know if this was normal.

If you change jobs, however, you would need to repay the loan immediately in most cases or it would be considered a distribution.There is the opportunity cost of the difference between what your plan may normally earn and the nominal interest you would pay the plan for the loan (generally 4-5%).  

I normally do flip and fix but am interested in flip and hold..I am interested to speak to anyone lending for these types of projects.

Normally I purchase single family buy and holds.

What would be a normal price for renters insruance (if that is what I need) on a 50k property, like $40/month?

And, while I don't normally like to work with agents on my investments, this property was listed on the MLS at $10k and the agents commission was a flat $2k which the seller paid.

Maybe even market it below normal rent value 9but still getting your $400/m) and let them clean and paint. 

@James Paine I think that fee is fairly normal.