Are there approved vendors you must use for unit repairs? 

Hey Quentin, Here are my bits of advice:Prioritize Value-Add Opportunities: Focus on properties that require cosmetic updates rather than extensive structural repairs.

Also, our cleaners will report property issues to us through Breezeway and we manage all of the repairs and consumables.  

You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

Even without a budget for repairs/etc - let's just define "cashflow" as income left over after PITI & utilities for a moment - Mac Groveland and Highland Park are going to be tough.

I would encourage you to break it down into. 1) single or multi family 2) Buy and hold vs flip --I would definitely buy and hold if you have limited knowledge when it comes to property repairs (you can always flip later).  

I have been in the construction industry, mostly residential renovating, so I know how to spot damages, repairs, and/or things that need to be replaced.

You have to understand repair costs, ARV and many other things.

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

@Zachary EngenMost lenders will allow a cash-out refinance of up to 75% of the property’s appraised after-repair value (ARV), not the purchase price or costs.