You can renegotiate based on your inspection/inspection contingency3.

PMI for a conventional loan is % based and affected by credit score, downpayment%/LTV, DTI, and number of borrowers on the loan.

We are closing in on the dead line for lead based paint inspections for rental dwelling units...."

We are going to touch base in a day or two.I have run the numbers on the Brrrr calculator, but have ZERO confidence that my guesstimate about rehab costs are accurate.

In CA my understanding is I have the eradicate based on the warrant of inhabitability, but I can charge it back to the tenant if they are at fault.

My Padsplit rep is actually based out of Vegas as well. 

I too am based in Chicago.

Vice versa, if you are just starting out, you might want to be more conservative to tackle any unexpected expenses that arise.The 70% rule is an industry standard, but that doesn't mean you can't adjust it based on your desired ROI.

I'm totally looking for somebody that will help out with the paper work and keeping within the law; and also (And just as importantly) help finding the deals based upon my criteria.

If it was about buying properties, it would be called "collecting".Assuming a property that is good for both, one simple way (the best way) to see which is best is based on comparing the potential profit from a flip to how many years it would take for the potential cumulative CF to equal that potential profit.