Also the thing you will run into if you restore a property that has been deteriorating for a while is alot of the lead paint got into the dirt around the house and the trim on the window so that needs to be replaced too. 

Two of my biggest frustrations over the years has been finding and keeping good help, and following hacks around fixing their mistakes and having to work to restore homeowners faith in my profession..If Ive seen it once Ive seen it a hundred times...

I also restored a house that was built in 1920 - that was a big project!

If you do LVP throughout using a floating product so you can restore the wood floors if you want to down the road. 

I know this post is old, but DOM Roofing & Restoration replaced 4 roofs on my rentals in the last 3 years through insurance.

If the property isn't zoned 2-family and/or the conversion wasn't permitted, you're looking at costs to restore it to a one family or permit it after the fact.  

After a roof repair and flood restoration within two months of each other I ended up with nearly $8,000 out of pocket because the rents hadn't been enough to cover those huge incidences.

There is a severe lack of supply when it comes to affordable housing.It’s remarkable to see how it can transform someone who is homeless and being able to help restore their dignity has been a spiritual return that is “priceless”.I’d like to see the VA do more community outreach at local REI meet ups.

Either buy the cheapest house you can be happy in and invest the rest -or- buy, repair, resell every 5 years.  

I would suggest when you're ready to purchase a place, buy something that is either a 2 unit (or 3 or 4 unit) to live in and rent out the rest.....or be willing to rent out the basement or extra rooms in your home.