The inspection failed first time because of a vent that wasn’t covered, a couple of non-grounded outlets, and some chipped paint.

If it's a standard Lakewood up/down duplex it probably has a plaster ceiling under the ceiling tile-- at least all the ones I visited when my son was apartment hunting were plaster.IMO, the "nicest" fix (assuming the old plaster is in poor condition) is to scrape off the acoustic  tiles and then drywall over the old plaster with a smooth finish; the cheapest fix, if the only problem is the one tile you pictured, will be to screw up the tile(s) that is/are lose, cover the screw with a little joint compound and then primer and paint the ceiling; If you are lucky the tiles have already been painted before.

B) can you rent the place out and cover you total PITI if you needed to move out for thing like job opportunities etc.

The condo master policy covers "sheetrock out" I was told, and they have a $10k deductible. 

@Joseph DiNardi-Mack right that's exactly what the property management mentioned the cost would not cover any maintenance.

Being from the bay area, you are looking at Las Vegas as a kid in a candy store, or buying 4-5 LV or Gucchi purses at a time.

I finally decided to ask my renter if they already had window coverings.

In your experience, do successful brokers cover more than one neighborhood?

Most Proformas will at least have a small CapEx reserve shown.In this period of rapidly rising rent growth and low vacancy, a lot of this gets glossed over because property appreciation covers any problems.So, here's what I would suggest.

What if when he finally moves out, there are damages or money owed not entirely covered by the deposit?