Any major projects would eat through that 10k number very quickly.Other than that, it looks to me like you're conservative. 

We have since stopped since it was “eating” into our bottom line and it was never mentioned in the review.

We’ve probably all never lived not knowing if we’ll eat for the next day or two.

also if i'm saving 3-5k per unit, that would be 12-20k saved just for renovations, which eats up most of my entire budget... is it impractical to try to buy a 4plex with this much capitol?

It does eat into your cash flow though.

Tenant laws can eat your lunch and I bet a paycheck they'll never get better.

I always liked the saying "you can't eat equity". 

Trying to steer clear of using 25% down (from HELOC) and then finding a 1st mortgage (I'd have two mortgages on the property then) as I feel it would eat pretty quickly into my cash flow, obviously.  

Also, keep in mind that a condo comes with HOA fees that can increase in the future, eating into some or possibly all of your cash flow.

You be looking to eat the equity out to invest in another deal.