Build a RTMP to HLS video stream converter on Linux

I would like to build a linux based transcoder to convert a live RTMP stream into a HLS stream that can be used to stream videos into HTML5 on iPhones, as RTMP is not natively supported. As the streams are all live, the delay caused by the conversion should be as minimal as possible. I will provide a raw ubuntu server and need the successful bidder to install everything from scratch. Bidders should have experience with RTMP streaming and should propose how this transcoder can dynamically generate streams for different and dynamic RTMP urls which will be fed in via a simple PHP API. I have found a solution which other users claim can work: [login to view URL]