This means all the tenants rent and other income less all the repairs and mgmt fees..You shouldn't need to look at that many reports.

This will probably be unpopular but you should save for a few more years even if you save enough for your down payment, if you are exhausting all your savings, you will struggle with any unexpected repairs.

I usually suggest to my clients the equivalent of 3 months’ rent held in escrow and double the daily rent rate to be charged in the rent-back agreement starting after agreed upon move-out date if they are not out, with seller maintaining all utilities and repairs on appliances and systems until move out, especially if you’re planning to renovate, anyway.

I’d suggest drafting a solid agreement upfront that covers everything—ownership percentage, costs (mortgage, repairs, utilities), how profit is split, and even exit strategies if one of you wants out.

Some are incredibly simple and require little to no repairs. 

Appliance repair person lined up, warranties don't work fast enough for STRs, you need to pay to have an appliance fixed or replaced right away.

I have some cleaning and repairs that need to be done in the empty unit along with the common area. 

Turns out, the demand for renovated homes actually picked up, since many locals were looking to move into places without the hassle of dealing with repairs themselves.From what I've heard, Tampa's market is showing some strong signs of resilience.

They may have figured the bid based on rough estimates ($35/sq. feet for repairs, offer 70% of ARV minus repair costs, closing costs and their finders fee).

So I would count on $3,200 coming in minus $500 in utilities and another $100 or $200 in repairs.