I am looking at purchasing a 2 family property, and was wondering if there was a way to avoid mortgage insurance if I put 10% down.

We are currently under contract to purchase a group of duplexes and I am researching our insurance options.  

The highest offer wins, and you cannot back out of the offer once you've made it.Finally be wary of immigration laws and health insurance/benefits.

You need a place to live no matter what, and I can't imagine rents are very cheap in Portland, so you're usually better off at least having the benefits of a little tax writeoff and mortgage paydown while you own, plus being able to paint the walls the colors you want, etc.I'd hang tight if I were you, see if your market goes up a bit more over the next few years (which I personally believe many will, just my professional opinion,) and try to refi and dump your mortgage insurance (assuming you have it) as soon as possible.In the meantime, hang onto your $50,000, keep growing it, and wait for the right deal.

Standard repairs (bathroom, paint, roof, electrical upgrade, clean up etc.).

That does not include debt service, but does include taxes, insurance, advertising, lost rent to to vacancy or non-payment, legal expenses, accounting expenses, capital expenses (roofs, furnaces, etc), and property management.   

First the bad, most banks will not fund the loan nor will most home owner insurance companies approve a policy until restoration and remediation is complete.

For example if you owned your previous home, had plenty of equity, worked out a forbearance or deferment arrangement with your current mortgage company, the mortgage on the new loan was less per month than renting in your area (common in Houston) and truly have a plan for exiting the old house, as in you have the means to repair it or the equity to be able to let it go as-is and not be upside down.Or you are well within a floodplain, so you have flood insurance and you'll have a payout, maybe you've flooded before, and and it's just time to move to higher ground.

Your model is assuming $3,132 in annual expenses because that is what you have put in, some of those expenses look to be monthly amounts (taxes, insurance, mgmt fees, etc.) and that is way overstating your return. 

The only way is that if I take it subject to the potential debt and the title company cant issue title insurance with the note being released.