Costs to make those repairs don't tend to cost and arm and a leg.It all comes down to ensuring you have enough room in the budget to hit your personal return target.Now if the cost to repair along with the purchase price caused the deal to decrease your return target, then at that point yes I would consider it a deal breaker.

Cash is king, a Cash out Refi could be recycled (in decreasing amounts as you noted) property by property.

I'm good with $100/unit/month if there is obvious room for rent increases and/or expense decreases. 

Due to COVID-19 my W-2 income has taken a 15% decrease for an undetermined amount of time. 

@Carolina Brembilla Ventura county has also experienced a net decrease in population last year.

The financing is much worse for 5+ units and can actually decrease price/demand. 

If you buy and live it , under FHA rules and guidelines you (the lender) can leverage the rent payments from the other side which decreases your DTI and increases the amount you could borrow. 

Cleveland has a very very slight year over year population growth decrease, about .3% per year, but our jobs are actually growing.Also our business/employment industries in Cleveland are rather diverse.

A 15-y will accelerate your payment schedule so your payments won't decrease.

Also if it's a hud propert one thing I've learned is they do 5% price decreases over time.