Major repairs will come up at some point. 

There are also annual inspections you have to pass where you may have to do repairs that you wouldn't normally have to do.

Take into consideration the mortgage, taxes, insurance, HOA fees, and cash reserves for home repairs or replacements.

Repairing & maintaining the building is the owners responsibility not a tenant.

Just set aside some for repairs and to replace worn out or damaged items.All houses will eventually need a new roof or HVAC system.We also have an upgrade budget.

@Jacob Sherman I’m typically raising $100K - $400K for the purchase and repairs of a SFH or smaller MFP flip (short-term).A syndication seems like overkill, and some investors don’t want to deal with a K-1 because it’s not worth the extra accounting expenses for a short-term deal.

It's all going to come down to evaluating needed upgrades & repairs ROI - for every dollar you spend, will you get that back in a higher price or quicker sale?

If you're going to flip, it could work, but you would need to analyze the properly for that approach -- which would included getting detailed and accurate estimate on repair costs. 

One strategy I've used is offer a higher price and ask for closing credits to buy down the loan and negotiate once it's in contract for credits on repairs. 

Under Servicemembers Civil Relief Act (SCRA), the following are considered “uniformed members:” Armed servicesActivated National GuardCommissioned Corps of the Public Health ServiceCommissioned Corps of the National Oceanic and Atmospheric AdministrationTo terminate the lease agreement, the tenant must meet the following conditions:Tenant joins the military after signing the lease agreement or signed the lease agreement while in the military then ordered to permanently change location or deploy for more than 90 days;Tenant provides landlord written notice; andTenant provides landlord copy of the military ordering him/her for a permanent change of station or deployment for a period of 90 days or more.Landlord fails to perform its dutiesFailure to do repairsTexas law mandates residential landlords to make a diligent effort in repairing property problems that materially affect the physical health or safety of an ordinary tenant.