As a landlord I fully appreciate the boards position, regardless of discrimination, because I know the wrong tenant simply will not work.

Jonathan Smith What did you think of the off the shelf lease vs. the one you had completed by an attorney?

I was planning on demanding the following:Properly perform the poor quality repairs for no additional chargeBe reimbursed for repairs I did not approve and were not critical to get the condo back on the market after the bad tenantBe reimbursed for the additional cost of the home owner's insuranceAfter the above are sections are completed, terminate the contract and get a different PMIs this too little to demand?

Simply ask your partner at the very beginning what the terms are for future properties.

My current goals are to educate myself in flipping and buy and holds and have my first real estate flip completed by the end of 2017.

I have completed a number of real estate transactions over the last 10 years and currently have 2 rentals back in Aus. 

I'd really appreciate experienced investors to take a look at my work and let me know if my assumptions are sound or if I'm completely off base.

Individuals that lend money should probably take a finance class on lending, many simply rely on a low LTV and miss good loans, but that's the easy way. :)  

I read about HELOC, which i always hear but i think you need to complete the duration of the loan otherwise you will be penalized :(.

That being said, in the current interest rate environment, I would lock in as much fixed debt as you can and avoid ARM's completely.