I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

This is my first Brrrr When did you purchase the property and when are you anticipating completion of the rehab? 

In reality the owner probably gets to do and pay for the repairs as the tenant has no money for things like this. 

Purchase price: $90,000 Cash invested: $55,000 Triplex in SE Cleveland (D+ neighborhood)Purchased for 90 and saw 105 for valuation. 25% down plus closing costs and unit repairs has led to about 50-60k going into the deal.

No charges for admin or managing repairs.

Until you have to do a major repair like a roof.  

It’s very easy as tenants pay like clock work electronically and are very reasonable for scheduling repairs.

I have experience on the labor/contractor side- painting, installation, repairs, landscaping, staging for sale, etc.

Negotiated out need for 3rd party repairs and put in "sweat equity" There were only appliances and light fixtures/fans missing.

That affects your loan amount and then principal & interest payment.2) Estimate rents based on recent rental comps3) Account for all operating expenses such as property taxes, insurance, repairs & maintenance (landscaping, snow removal, cleaning etc), property management (if applicable), vacancy, utilities (what does the tenant pay vs what you would pay?)