This is because the VA loan has extra requirements for appraisal (BLUF: they must be safe, structurally sound, and sanitary — no big fixer uppers).The real value in the loan is being to put no money into the deal up front giving you a greater CoC return for the right deal.

This would leave you with 9k or so left over...This was proof of concept not entirely a good deal or bad deal... rather just quick napkin math to show the numbers.

The doors will cost $800 to replace.The lease says the following regarding maintenance of the grounds:"Tenant shall at all times, maintain the Property in a clean and sanitary manner including all equipment, appliances, furniture and furnishings therein and shall surrender the same, at termination hereof, in as good condition as received, normal wear and tear excepted.

It's in the State Sanitary Code.

@Shane Jeanfreau :  Back of the napkin calculation says you have a winner based solely on the numbers. 

Nice back of the napkin math @Andrew Johnson That really tells you everything you need to know. 

The BiggerPockets calculators are a huge way to practice and once you get the hang of it @Mark Lange, you can use the back of a napkin.

We originally signed a back of the napkin agreement with one another for 2 years.

I use a tripod of investing criteria and the 1-2% rule is a quick napkin test I use to see if I want to analyze further.

A contract can be on a napkin.