I have also looked extensively into Cleveland as well.

That's what I think a fair price is.It does depend on how far it is to the roofing supply store, how far it is for the workers to travel, if there's any rotting wood that needs to be replaced and how busy they are (busier = higher profit).You could buy a couple ladders, a compressor, a 100ft extension cord (14/3), 50 ft of rubber air hose, a roofing nail gun, a caulk tube a couple shingle removers and pick up some day laborers who know how to roof. 

This strategy can help you expand your portfolio without needing extensive cash reserves each time.

You should have a 593 form from escrow that they held some money back, and then anything above what escrow holds above and beyond that amount your CPA will calculate to pay next April or October 2025 (depending if you push back the deadline/file extension).

As I prepare to use an FHA loan for my first multifamily investment, I've become concerned about the extensive repairs that can accompany purchasing an older model.

Our ability to secure and resell the property swiftly underscored our expertise in maximizing value without extensive physical improvements.

There is an extensive network in Sacramento - as Mark mentioned, I host a local REI meetup (it's actually the 4th Tuesday generally) and there are other meetups around town, I can share a list of them if you'd like

A Walgreens with 25 yrs of lease left and 5x5yr extensions will be "safer" than a stand-alone mom and pop restaurant with a 5 yr lease and no experience in the restaurant business.  

Do you have an extension option if my rehab goes long? 

Our ability to secure and resell the property swiftly highlighted our expertise in maximizing value without extensive physical improvements.