So, basically, I would buy myself a salary (income stream), albeit larger than what I make now, and we would then invest our savings in real estate with an eye to the future. 

The program works best for newer or recently renovated properties with experienced sponsors and third party management.

The Purchase price $80,000 plus Repairs $15,000 totaling $95,000, along with the $19,000 (20% down) and Loan of $76,000 totaling $95,000 lead me to believe you are using a Fannie Mae Homestyle Renovation Mortgage.  

I expect of get rent of $3000 after renovation.Alternate approach is to construct 4 condos instead of spending 100,000 on renovation. 

I have a property in San Antonio, TX currently undergoing renovations to make it safe in preparation for a tenant.

What renovations do you BRRR experts feel give the most ROI on appreciation and rents?

I decided the raise to $850 immediately wasn't worth the month or two of vacancy I would incur + renovation allowance if she left. 

But like nice larger things like house and vacation houses

That being said, we managed to renovate the 2nd apartment unit, clean up the first floor, and duplex down to the basement to add a bedroom and bathroom.

That being said, we managed to renovate the 2nd apartment unit, clean up the first floor, and duplex down to the basement to add a bedroom and bathroom.We still have a fair amount of work to do.