Reason being, it is nearly impossible to make repairs to the rubber roof once this stuff is on it. 

Then you can take possession, make repairs and get it back on the market. 

Many investors, like myself, just hold TItle personally with homeowners/landlord insurance, umbrella policy, and keep the property in good repair. 

 $45000 x 70% = $31,500 - Repairs = offer price (typically).  

I'm looking at 185k with 5% down but it seems that in factoring in all other expenses (vacancy, capEX, repairs, utilities, management, etc.)

That means that you need to learn what a properties After Repair Value (ARV) would be.

Existing tenants claim that they are generally happy with the property and don't have any complaints or repairs that they've requested and they've just renewed their lease 2 months ago.What I like about Hemlane- Cost: Even at the most expensive package offering for full repair coordination and access to a network of service pros, its still cheaper than the property management companies I've spoken with.

There has been some hesitation for me to sell due to the fact the rental market here is averaging $2,500 in rent for my area and property, I make great money now and have funds to cover vacancy and repairs on the home, but I would like to be able to afford a nice rental for my fiance and I to live in while we save for our primary residence.Shoild I sell and take my profits (60-70k net) and throw into an investment closer to where I will be living or should I rent, cash flow and build equity in the property. 

The best thing about getting to that $200,000 price range is getting a much newer home with less repair risk. 

I found it really time consuming to measure for every single repair in a house so automated calcs as much as I could based on room sizes.