College towns like Auburn don't function like other places.

For tenants you think functional/durable which is usually in conflict when dealing with a SFH property.

I've run a kitchen for years. 70 - 80 hour weeks regularly that are physically and mentally (most kitchen employees are not the most functional adults, it's partly a babysitting job) exhausting.

I offered 150k all cash, 100k earnest, closing 4 days or less, and only due diligence as a contingency to get someone out to see if the foundation was still functional.

I'd like to meet the guy who came up with these % rules....Your capex ("major improvements") budget is a function of the age, the condition and the replacement value of them home.

I am going to an extended family function in LA & SoCal.

Consider the local rental market - will a functioning pool allow you to get higher rent, or a better tenant?

Less people ( families) will find a 2 bedroom functional for them.   

Familiarity with the process, vendors and their functions, documents, local laws and REI terms by going through the process would be beneficial. 

You might benefit more from looking at the experiences and investing habits of high function professionals like medical professionals, professional athletes and successful business folk in other time demanding fields.