As it is, just the length of the section probably makes people who would get approved think that they won't. 1/3 is pretty much the norm for many people and what people recommend when preparing budgets. 

My budget is capped at about 100k, all in.

Threatened with steep fines, after sending the certified letter, the threats disappeared, as the city (in this case Los Angeles), decides they don't have the budget to fight the US federal government in court, and lose (which happens every time the feds have defended the Fair Housing Act).  

My budget is small now and I need that first deal to keep my momentum going.

Should we pursue the flip, and renovate at the higher repair amount, pushing our rehab budget closer to $90K or should we be conservative (or safe), do the bare minimum to get it ready to rent, and maintain it as a property that will be held as rental???

This stuff is ugly and it's costly to fix if you're working on a tight reno budget. 

I have a remodel on a budget so it's important to get it right. 

From there, you want to make sure you have a 6 month min. budget in mind for direct mail.

May be worth looking into RUBS and if that's an appropriate solution for this property.As far as your analysis:Include a renovation budget.

If you have enough tucked away to live 40-50 years on your anticipated budget considering inflation then I don't think there's anything wrong paying down your mortgage early for peace of mind.Assuming that you are going to remain in the home you are talking about, paying down principal has terrible opportunity costs if you assume even a modest return on the savings.