Your all-in is about $140k ($40k for closing, $90k for reno and about $10k for holding - 6 months reno and then occupied)...

More than standard among design professionals- Architects and Engineers. 

My background other than Real Estate is in Engineering, specifically Manufacturing Engineering. 

Quote from @John McCarthy: The standard answer is 60 Days, however, your lease should specifically state what your terms are that you both agreed upon when the tenant moved in. Is

I guess my main question is is there any minor profit in being part time if the work is put in. I

I am also in the engineering field (Civil and Land Survey).

Otherwise reducing the premium is not simple but some engineering firms specialize in flood zone updating.  

As an engineer the formula makes sense to me!

You find this out by talking to people, speaking with past residents, people in the industry, or mystery shopping the property.Using technology to pull in data so you don't have to manually type it in, is helpful, but other than that, I would not trust automation. 

Is there a point of contact person/business that handles all home investor concerns (general contractor, engineer, etc.)