I think you may add a bit 30%-50% more on the cost of Estimated Repairs.

Marble backsplashes, all new kitchens, bathrooms, HVAC, electrical, refinished hardwood flooring, etc, all with the idea that we would get better tenants, higher rents, lower vacancies, and less maintenance/repair requests. 

Hello,Thank you everyone for the input.Please correct me if I am wrong I will use the 200k, 80% to pay back the Heloc loan (165k) plus 30k in repairs and renovations, a total of 195k, minus closing cost.My question is where do the $50k , the 20% goes to?

We added significant value by investing $32,000 in renovations, including essential repairs and upgrades to modernize the property.

The cost to repair the system was high, so we decided to move to a flat monthly fee for utilities.

With no experience they will only finance 70% ARV (after repair value) and with experience they will finance 75% of the ARV. 

Then what happens on paper a property looks like a cash flows very well, then when you add in vacancies repairs and life in general, they end up having to start using credit cards to pay for things and get caught into that spiral To answer your original question most real estate investors are not buying a property every year.

Cashflow is minimal at first, usually enough to pay for the occasional repair and you are paying close to retail price. 

Unfortunately, my lovely co-tenant refused to vacate and continues to threaten the landlord- filing “remedy and repair “ , contacting neighbors, calling him slumlord, opening his private mail — psycho full steam ahead.

The property was an old, run-down farmhouse in need of serious repairs, but we saw potential.