Let say your lender will lend to you at 75% of the After Repair Value(ARV), so property worth $100K, max lender will lend is $75K or 75% Loan To Value(LTV)Your deal, after purchase and repair should be at or below the lenders LTV. 

Given all the repairs and issues that we all deal with as landlords, is it worth landlording if you stick it out for the next 20 years on a property ?

You will need to keep track of all expenses, repairs, capital improvements and finally claim depreciation during tax filing 🙂

VA offers renovations loans as well to renovate or repair things like roof, convert garage to bedroom, adding sqft etc.

Then separately you'd account for any fees paid for management, repairs management paid on your behalf etc 

To find the best deal, set clear investment criteria—aim for at least $200/month per unit in cash flow, strong rental demand, and minimal repairs.

as a remodeled I always think about repairs and replacement. 

I say you are VERY wrong.In my area older renovated houses demand top dollar on rents and I can find distressed properties or motivated sellers so I can buy at huge discounts for cash.I do not have constant repairs as I fix them up correctly after I buy them.House values are based on comps.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

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