However, i don't think i'm quite ready yet to make the leap and pull the trigger on a first deal.

I’m getting ready to start going to my local Michigan REIA meetings an start networking hopefully find some good long term friendships. 

All, I am getting ready to do my first commercial loan. 

For some add'l context (this is also for the lurkers that'll come across this thread in the future), the last time a wholesale rep (a person who courts mortgage brokers for brokered mortgage business, representing a wholesale lender which can be a bank that also lends to consumers directly, a REIT, a CU, etc) called me all excited about their 80% LTV 2-4 unit investment program, their rates were north of 6% and ARMs.

Solution: Realtor providing repair solutions(or market ready solutions) for sellers by fronting funds or bringing in a crew to do the work.

Since they're not the best tenants, and you'd rather have them gone now, you could offer to let them out altogether and start over if you're ready; otherwise, I don't see how it benefits you to now only have one person financially liable instead of two. 

I'm ready to start looking at properties and identifying a contractor/s I can work with, what type of insurance will I need to make sure my business is properly covered and does that have to be renewed/added to each house I flip or is there some sort of umbrella policy that I can add and remove properties as my business progresses?

Are you ready to be the resident manager?

The commission you charge yourself is one of your costs as selling as a consumer.

Perhaps you could get them to move out with some sort of *written and signed* agreement, and be ready to evict if possible.