As mentioned take a smaller cut to complete a deal if necessary.

In fact, I would want to go even lower because there's a very good chance some damage is hidden and costs will run higher than anticipated.If you aren't experienced, I recommend you just buy the good apple. 

In the future, I’ll factor in contractor costs more.

@Henry T. its like despite what these policy makers do, housing costs and homelessness sky rockets.In NYS the HSTPA got passed.  

Cash for keys, screening, and lease enforcement seem crucial, no doubt.I’m curious, though—I've been in rooms with pretty successful multifamily operators, and many of them actually frown upon eviction because of the cost, lost rent, turnover expenses, and time.

The tenants were more interested in that than turning on the already-installed alarm system because there was no monthly cost.

I wouldn't suggest you buy a single-family home to live in because the additional cost outweighs the benefits.

When you do that, you can get better pricing and leaves less room for error.The best advice is to push forward as quick as possible, fail forward, and always continue to introspect on what you would do differently and then ACTUALLY go back and implement that change (easier to say than do).

Does the cost per sqft account for electric and plumbing? 

You’re on the right track—build awareness of costs where it directly impacts their role, but don’t overcomplicate the program with factors they can’t control.