It is feasible if the work is almost purely cosmetic but doesn't leave a big gap for unforeseen issues. 

. $35k rehab could mean there may be unforeseen issues behind walls which will inflate your budget...Rent possible?

However, if for some unforeseen circumstance and power must turned off, it wouldn't hurt to ask in advance if your window installer has access to a portable generator.

I only ask because there are frequently unforeseen capital expenditures that may significantly alter your budget (ie plumbing, electrical, etc.).

I have actually had instances where a tenant breaks their lease early, a travel nurse took over the lease right away, vacated the property within 5 days due to unforeseen circumstances(agency pays their fees), and filled the unit again with a new young professional.

However, risk without going through an  attorney is there may be unforeseen consequences.   

I want to hold the mortgage so the tenants pay it down, however I want more monthly cash flow and some buffer for unforeseen events / down turns in the market.Anyone putting down 50% on a 30-year fixed?

One second electrical and plumbing are fine, the next it’s not and it cost an additional $10-$20k or it won’t pass inspection, i don’t see any mold, oh wait the old owner used drywall in the bathroom which needs to be replaced and mold in behind the walls and bedroom connecting to it is full of mold.... there are a lot of unforeseen problems that can happen.

Nothing worse than getting audited or hit with an unforeseen tax bill.It sounds like you are house hacking well though.

It is has cause me much anguish because of unforeseen capital improvements to be made and loss income because one of my 5 properties in Houston was ruled uninhabitable.