Amortize your major repairs (roof, hvac, built in appliances) and add an estimate for small maintenance.This feels not terrible to me.

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

As for repairs on the purchase of a home prior to auction there are some professionals utilized by the professionals for costs to repair the home in best and worst case scenarios.

20k is just your reserves for repairs once you buy with the minimum being 15k.

I was able to replenish emergency fund money I had to dip into for furnishing, was able to pay off a hot tub, was able to replace 2 garage doors and paid for a larger repair this year.

Rent Per Unit $‎650 $‎700 Other Income $‎750 $‎800 Less Vacancy $‎(3,120) $‎(3,360) Operating Expenses $‎18,790 $‎19,809 Repairs $‎4,000 $‎4,200 Capital Expenses $‎2,000 $‎2,100 Landscaping $‎1,500 $‎1,575 Utilities Vacant Units $‎288 $‎302 Property Taxes $‎6,000 $‎6,300 Insurance $‎1,500 $‎1,575 Management $‎3,002 $‎3,232 Other $‎500 $‎525 Net Operating Income $‎41,241 $‎44,831 Financing Expenses $‎22,224 $‎22,224 Cashflow $‎19,017 $‎22,607 Down Payment $‎21,000 $‎21,000 Cash on Cash Return 90.55% 107.65% Keep in mind, this return doesn't even include the principle pay down on the loans.

@Apurv Asthana I usually keep high deductibles and low premiums on all my policies since I wouldn't file a claim unless absolutely necessary...usually I can get things repair at good pricing. 

Knowing exactly what’s happening with the duplex—rents, repairs, tenant feedback—can help you catch issues early and save time, stress, and money in the long run.

Work thru what you would bid on the house, what you think repairs would be, what you think your ARV would be.

A strong agent who invests can help analyze deals, run comps, get rents, help you explore multiple investing strategies, strategize offers and negotiate best prices/concessions/ repairs.