If it is the first then it would seem you have a case to challenge their requirement, since as noted on the chart there isn't a requirement for a PE signature on building plans for that specific project. 

I'm originally accountant/financial analyst by trade that is looking to make the leap out of corporate servitude and into full time REI in and around the Carolinas.Short term goal is to focus on flipping to build up some cash/assets/experience with the goal of eventually creating my own PE pool to start working multiple projects and also start looking at development deals.

That involves consideration on forming a legal entity that you might have to hire someone to advise you,  figuring out your financing that you pe-qualify for and get a loan letter from the lender that will help you and give the owner a comfort level, and a new business location that is convenient and has minimal distractions.  

It's pretty much like price-to-earnings ratios for a specific stock market sector: Just because the P/E is high doesn't necesarily mean a stock is a good investment.This blog post by Brian Burke does the best job of explaining cap rate that I've seen yet: https://www.biggerpockets.com/...

Plenty of large PE firms are buying for cash flow right now and that includes paying fairly high prices in bulk for residential real estate almost banking on appreciation sooner or later.

This included piers, concrete work, as well as a PE stamped drawing.

Just to add clarity, the LP would exit the original Syndication while deferring capital gain taxes and launch his own PE fund. 

I am interested in working in the real estate industry, investing, tax strategies, PE, syndication, BRRRR, wholesaling and development.

Not sure what terminology is used to describe the risk profiles of investments in PE, but for real estate, each risk profile will have a general IRR range.

Pe patient!