There are places int he Midwest however, that will give you bigger cash flow, but potentially more problems regarding repairs (older areas) lower class neighborhoods (depending on how cheap you go).Indiana, Ohio, etc has some opportunity.  

So then, assuming the lender would also pay for rehab/repair, how exactly would I go about estimating the rehab/repair costs on Property X when I have yet to step inside the house?

That is what we were thinking about by raising the rent $50-$60 a month and putting the extra into repair account.

Another option if the main reason for you wanting to exit these investments is that you don't want to do the repairs yourself any more would be to hire a property manager to handle all of the maintenance, showings, and rent collections. 

However, now you (depends on how this Trump tax bill works out in 2019) can write off many things that deal with the rental property: depreciation, interest rate, fix and repairs, utility, traveling to rental unit.

We make money on repairs.

Property #22-unit Property in Queens, NYEach unit is a 2br/1baAnticipated gross rents: $3.6k/moOperating expenses (per month):- Vacancy: $180- Repairs/Maintenance: $70- Taxes: $295- Insurance: $135- Property Management: $180 (did this at 5% of gross rents because I can manage the property myself but I’d like to set aside a portion in case it makes sense to transition to management).

Also provide a great packet that includes the repairs that are needed as well as the comps that support the sale of the property to the investor, as well as comps that show what the ARV is once those repairs are completed. 

I think instead of getting the gas one repaired I'm just going to get another electric baseboard heater.

Vacancy, CapEx and Repairs are all set at 6%, that seemed to be a reasonable percentage for homes built within the last 30 years.Great to be part of this community.