There are many other angles also you can take to both increase profit, reduce risk, etc.

Renovation costs are capitalized and added to the property’s basis, reducing taxable profit (sale price minus adjusted basis and selling expenses).

to me I view an inspection contingency as you do it and if something is wrong you present it to the seller and say "hey fix this, reduce the price OR if it was major and really bad just walk away".If no inspection was done, then its unethical but reality is its not worth a seller to sue over it.

or you can buy down your rate or pay points to reduce the interest rate as this is a commonly way to reduce your monthly PITIA payment. 

If you have a wider variety it will reduce the risk with your investment.

A solid exit plan reduces the risk of default.Check Their Liquidity: Even experienced borrowers can run into trouble if they don’t have reserves to cover unexpected costs.

@Charlie KrzysiakCondos in Dallas offer affordability, lower maintenance, and strong rental demand, making them a good investment for those looking to build equity and reduce living costs.

I'm going to reduce my rent by $100 as this ratio seems abysmal (quite literally a 0% ratio in view-to-application). 

Quote from @Irma Leibas: Quote from @Jaycee Greene: @Irma Leibas Many of my clients that do mid to heavy rehab projects have contractor credit cards from Home Depot or Lowe's, which reduces the amount of upfront capital needed for the rehab. 

The reason to do so is not necessarily to reduce cost but to be efficient.