It is the "subscription model" life style (music, books, cars, etc.)

In my opinion, these are usually things I would want to do to make the property safe and in good repair as we have a BRRR model. 

I bought Four 4 plexes and  today I'm 55 and I am partnered with a small group and we are building 3 projects totaling 806 units and using a hybrid of the syndication model to fund them.   

Business models differ per lender.

Trust your instincts as the tie breaker and use conservative modeling assumptions for the raw numbers.

I will go ahead and bare my own strategy:This is assuming the purchase price of the home is between $80k-150k...If the rehab takes 1-2 weeks we look for a $20k+If the rehab takes 2-4 weeks we look for a $30k+If the rehab takes 4 weeks+ we look for a $40k+I know this is probably a very strange strategy, but it works well for our business model.

We still have a $250.00 Sony display model that we bought 6 or 7 years ago from Sears and can't seem to justify replacing.

If it's not worth jumping through the hoops to apply the KISS model for you I get that.  

Allowable Repairs or Renovations Funds can be used for any repairs or renovations that are permanently affixed and add value to the property.Allowable repairs or renovations include, but are not limited to: Installation of an “in-ground” swimming pool Outdoor living areas are also eligible along with the pool installationSubject property cannot be an unfinished model home or unfinished new construction.Kitchen appliances (i.e. cooktop/ovens/stove/refrigerator/dishwasher) may be included only as built-in fixtures (attached to property - cannot be removed) in connection with a total kitchen renovation that includes new cabinetry and countertops.

(Technically we had two others, but they meet our rental model, so I'm not counting them as mistakes.)