Our setup has us splitting losses 50-50 as added insurance to the investor and as a way to show i have skin in the game. 

Either that or price for that possibility.Buyer would want to have affirmative coverage for forced removal... and without knowing whether those are overhead or underground utilities, it's tough to say whether a title insurer would agree to that.

Do you have some good insurance brokers to recommend who cover Broward County?

It does seem like a risk I wouldn't want to take.I'm sure you will, but be careful to use insured and licensed remediators for lead and asbestos, if for no other reason than liability. 

I know you're not keen on refinancing since you don't want to lose your current rate and you're likely not at the 80% LTV mark, but this path would free up your options and enable you to acquire another multi-family home sooner than saving up 15% down for HomeReady.Also, your current FHA rate of 3.750% will come with life of loan mortgage insurance of .850%. 

I want to make sure that the engineer's company has Errors & Omissions/Professional Liability insurance.

How much are property taxes/insurance?

He’s been in business 15yrs fully licensed and insured.

I've been in the insurance industry for 10 years now and have owned my own agency for 5 years.

With P&I, taxes, utilities, insurance, rehab costs and roughly 30-35% (10 vacancy,10 management,10 capex and 2-5 for repairs) variable expenses.