It can be a lot of work at times but its definitely not enough to live on because I don't put enough money back for the big stuff- things like say a new roof, new carpet, fence, painting building, HVAC repairs, etc.  

I can give you an example in my market here in Cbus for SFH 1,200 sqft:Roof - $7k to $9k Siding - $9k Windows - $450/window labor + material Flooring - $5/sqft Paint - $3k to $4kStandard Kitchen - $7k Standard bathroom - $5k This is just a general idea from what I am seeing. 

Simplify as many standard processes such as online rent payment, leases, apartment turns, paint, and other materials, and re-key all locks to a master system.

And no one is being negative, they are painting a realistic picture of the outlook for you.

In the 6 months I'll be doing some rehab (paint, floors, some fixtures, new island, etc.).

I believe that paints the picture of who you are competing against and who you are dealing with. 

Is it painted chartreuse?

Needs some light exterior work (paint, caulk, broken vinyl siding).

It's painted green. 

A big trick is to do cosmetic updates to max out the rents, for example most deals I sell we raise rents a good 30-100% after paint, new counters, new flooring, paint/replace cabinets.