The repairs and maintenance and capex might be suffice depending on whether the properties you are looking at are turnkey but I know for a fact here in NJ, property management fees equal to about 10% which I believe is pretty standard nationwide.  

Does an out of state property you plan to fix and flip need to have property management in place or will a trusted GC suffice?

In other posts I’ve written extensively about the legal and compliance aspects of syndication; suffice to say there is a ton of mis information about this out there with much of the information being hopelessly outdated.  

Hopefully the added equity will suffice for the construction phase.

I typically just tell my clients if they are low down payment, they are going to be limited to 2 unit properties because of the 3/4 unit self sufficency test. 

Does that suffice as a notice?

We heard about an "electrical safety report" and from what we heard, it would suffice for future liability and apparently it only costs around $200, correct?

Suffice it to say that I missed out on about $50,000 worth of commission (net), since nearly each one of these people had already sold.  

Would a CPA letter suffice to prove doing business for 5+ years?  

Merely stating that you want the value lowered to a specific amount due to condition, should suffice.