Don't string them out too long and squeeze blood from a stone - once you get something that works for you, make up your mind and go for it.In the end, hopefully you now have a home contracted with concessions that are significantly higher than your closing cost estimates, which can now be disbursed against your existing debts. 

(c) The licensing requirements of this Article do not apply to: (1) any person who is employed as a code enforcement official by the State of Illinois or any unit of local government, while acting within the scope of that government employment; (2) any person licensed by the State of Illinois while acting within the scope of his or her license; or (3) any person engaged by the owner or lessor of residential real property for the purpose of preparing a bid or estimate as to the work necessary or the costs associated with performing home construction, home remodeling, or home repair work on the residential real property, provided such person does not hold himself or herself out, or advertise himself or herself, as being engaged in business as a home inspector.

@Daniel Porter If you ask for a breakdown of the estimated closing costs, you will see where the money is going. 

I would definitely need to get inside the house and do a detailed repair estimate. 

That sheet looks like an estimate, not the final payment (bottom of sheet even says "mortgage estimate").Is your loan a fixed rate 30yr loan?

Now Ive been living in the property since September and I've estimated 50K for rehab costs.  

I always estimate on the high side just in case but if it sold for 150k your profit would be 22-24k which is great. 

Does anyone in the LA area have a general "rule of thumb" for estimating maintenance costs, at least for the initial evaluation stage?  

There is a little bit of estimation and guess work for figuring out vacancy rates and maintenance rates, but otherwise these numbers are pretty solid.Appreciation properties are way more complicated to break down the numbers because there are so many unknowns that can affect the property's ability to appreciate.  

Estimate the damage and invoice the tenants for this.