Spell out all the expectations. 

In most cases, on your first fix and flip you should expect to have to bring around 20% as a down payment on the purchase.

She has a great network of agents that know the area and gave me great advice on rentable areas and expectations from possible tenants.

Both units had leases that were broken by these vacancies.  

Usually expect to see two points to the lender unless there are other people in the mix which can easily drive that number up.  

So, I'm still expecting a June rent check and my renters normally pay pretty early (28th or 29th of month preceding), but the rent check doesn't show up. 

What I really don't like about it though is: flood expectancy!

I don't know if this answer is going to provide a lot of value you to you, but one thing that is super important is for an investor to be super clear around what expectations are and what they are looking for.

Do I continue with the deal knowing that the cash flow is lower than expected but just get into action or wait until another deal and continue waiting knowing it's a sellers market? 

I'm looking to make a lot of offers on properties and am expecting the majority to be rejected.