Then compare cost and details of the proposed work.

Please consult with your own attorney for legal advice.Because you state you are in CA, I assume your rental is also in CA and that the rental is a dwelling unit for the tenant.If you (1) notified the tenant in writing of the tenant’s option to request an initial inspection and of the tenant’s right to be present at the inspection, and (2) if the tenant requested an initial inspection, and (3) if the inspection occurred, and (4) if at the inspection you gave the tenant a written itemized statement specifying repairs or cleanings that you proposed to be the basis of any deductions from the security the landlord intends to make (and all statutory notices), and (5) if the tenant had the opportunity during the period following the initial inspection to remedy the identified deficiencies, in order to avoid deductions from the security, and (6) if the tenant did not remedy the deficiencies identified in the itemized statement, then, you may withhold from the security deposit sufficient amounts to pay for damages including damage from smoking.

I am under the impression that this property has sufficient cash flow to support the proposed debt (permanent financing), however, either the property type or the loan amount might be too small for these lenders to jump on it.  

And I am planning on the rehab cost being a big ticket item, a figure that I need to incorporate into my proposal. 

But they'll want to take your name and inundate you with proposals.

If you plan to have the work contracted out, you can ask the contractors for a bid, and they will provide you a full statement of work with their price proposal for free (they expect they might get a job out of it).

If the lender wanted their loans assumed they would offer that... after an analysis that the proposed borrower qualified.

if you are buying a rental property then the lender should be able to use proposed rental income when calculating your debt ratios.

Or, as you propose, they simply give it to you as a present in the form of a discount off the purchase price, and get absolutely nothing for it (except more work that they otherwise would have paid someone to do with the same money you propose they give to you), and possibly even end up with less money in a final sales price than they might have gotten in the open market with a different buyer. 

On January 3rd New York Gaming Commission issued request for applications to solicit proposals for three commercial casinos.