Question about Repairs / Maintenance Budget

[Brad Ratushny]

Good Morning All,

I was hoping to get your feedback regarding how you look at repairs, make ready costs, and renovations.

My challenge is I've seen the advice to budget for 5%-10% for repairs and maintenance.  When a vacant unit needs $1000-$1500 to bring it up to market condition this 5%-10% is quickly blown.

Am I looking at this wrong?