Ideally LADWP will prioritize the infrastructure repairs and new service requests to these properties as getting power service in LA can be 6-24 months without project prioritization.

Nothing to get crazy about but no need to deal with tenants, property taxes, repairs, vacancies, etc. just sit back and collect.

I would add to this account every month, allowing me to pull from it whenever there was a large repair or capex event. 

For BRRRRs, make sure to focus on accurate ARV and repair numbers.

This gives you a foundation for making a fair offer.Secure Financing: Be prepared to show you’re a serious buyer with funding lined up, whether through cash, traditional financing, or a creative option like seller financing.Have a Strategy for Repairs or Development: If the property is distressed, outline how you’ll handle improvements to bring it back to productive use.

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

Okay, let's allocate $1500-$2,000 for this repair that will need to be done.  

I have extensive experience there doing about 500 deals , thousands of repairs/ renovations and move in and outsAll the best 

Normal repairs are absolutely NOT covered by insurance.

And you need to keep detailed records of all repairs and improvements.