John.It depends on what you're looking for.

I know it will vary depending on the tenants, but what is average for a 1100 sqft apartment?

It obviously depends on my comfort level and risk tolerance.I'm pretty comfortable with the coverage of the current property policies, but I've never had any claims against me or my properties, so I don't know if $1,000,000 is plenty of coverage or not.

If you're looking at single family homes (SFH), the best way is to look at what has sold in/around the property that you are trying to determine the value of (preferably within last 6 months; location dependent).

It will likely depend on whether it's owner-occupied (do you live in it as your primary residence?) 

Depending on your schedule (some RN's work nights) you'd want to commit some number of hours per week to the process.

Guess that would depend on the cost of the property.

I think you're so right that it depends a lot on factors specific to each investor's comfort level. 

C-class in Independence could have many meanings - depending on the area!!  

Your ARV would depend on how nice and which block.