Become a real pro at learner how to patch plaster because that stuff cracks and crumbles like none other in the SFH world.Also, I know Norwood is slightly better than the western neighborhoods like Price Hill and Westwood, but your numbers seem low for a SFH.

If the landlord pays utilities I go to 60%.Now there are a bunch of investors who manage property themselves and cut corners or repairs and patch and let things go past their prime if still working.This is how the investors are showing above normal cash returns.

Below is a list of my properties and repair/rehab costs.3 plex, purchase price $260k - $10k (2 units light remodel- new carpet, paint, appliances etc)Duplex $155: $3k (roof patch, finish hardwood floors new fridge) plus capex of $5k for eventual new furnace.Duplex $100k: $20k (plumbing, one side medium cosmetic rehab, roof patching)11 plex (470k): $30k (roof, furnace, unit updates)5 plex $165k: $40k ( update all units, paint interior/exterior, porch, deck, hvac, roof)Duplex $172k: $0 turn key but will keep $3-4k in case of large ticket item ac/hvac etc.

If you want a cheap patch job it will be tough to get someone for commercial to work on that.

If the problem (for example a water leak) is not immediately identifiable you ( or contractor) can cut a square hole in the drywall, take a look up there using a flash light to locate the problem, then once it is fixed, patch it up, paint over it and it will be good as new.

I can pay a contractor $150 to patch a hole in drywall and take that out of the deposit or I can do it myself and charge the tenant $20 labor.

@Justin Cabral - Try a search of Bigger Pockets for "Patch of Land".  

Ryan,If you can fix your moisture problem with the above mentioned sealants, I think your best bet is to patch the spall in the bottom face of the slab with concrete and then provide some sort of strapping system (steel/carbon fiber) in the short direction of the porch on either side of it.  

Some builders are cheap and want to patch.

As long as your property is not in a part of town that falls into the "bad patch", then I think you're good.