You can read it for yourself:https://www.hud.gov/sites/documents/DOC_7780.PDF However, there are variables to consider.

Many variables to consider include the specific location of the home, the property manager you decide to choose, the history of the home and community, how well appointed the home is (what elements of the home will allow you to stand out in this market) and what months you decide to use for personal use.

Too many variables to consider.I have 400 doors under management.

High level $200k for a $36k gross return is a low yield..however I think there are a few variables..with 35% down you should be able to get stronger lending terms, if the seller is workable you could entertain a concession towards a rate buy down for lower obligations, possibility to look at shorter duration (ARM) loans if you only intend to own 3-5 years which could also offer a lower rate.

I think there is a few dollars left over depending on a few variables

Sometimes I'll invest in "virutal staging" (just disclose in the MLS that it's virtual).Price, Location, and Condition are the 3 variables that affect how quickly a house will sell. 

iI LOVE CHICAGO because of the variable price points, endless number of multi-family properties, and the fact that many of these multi-family buildings need renovations, so we can force appreciation.

There are other variables, so I would talk to an estate planner.The most likely contender for the scenario, as you outline it, is a lease option to you.

You can search another one of my posts to give you a sense of generic rehab and maintenance costs, in the end this is the key variable in your underwriting that needs to get nailed down. 

OF course there are variables that will come into play.