You need to factor in rent increases pretty much all the deals I broker since even 2018 or so are well under 1% but after raising rents and doing cosmetic rehab you can get the cashflow high and make some equity. 

Only cosmetic or complete gut?

Tenants were bought out due to COVID eviction moratorium, asset then received cosmetic renovations and was leased up to a rent roll of over $16,000 before being sold for $1,350,000.

The contract signed for the property was a 90 day cosmetic rehab with some distributions paid and now I am getting no phone calls.  

The rehab would be mainly cosmetic, floors, kitchen, bathrooms, paint.

Would need some cosmetic (paint, refinish floors, minor repairs/upgrades completed by me).

The condo is nearly ready to rent and the house has a some work to do but nothing major, minor cosmetics.

I will not be going for a flip but mostly a property which requires none to cosmetic repairs.2.

It was closed by the state about 1.5 months ago after the current owner didn't address all the cosmetic violations.

My wife and I are looking at buying a property that we can live in and fix up (cosmetically) and then either rent it out as a standard SFH or as a short term rental.