You want to ensure that your lender is doing their upfront due diligence on the deal, has programs to get the deal done if the final numbers come in different(low DSCR requirements, favorable rent guidelines, etc), and is offering you excellent customer service.

You need to do periodic walkthrus to catch this and all the repairs you need to do. 

Since much of the house would be common areas, you might even consider hiring a cleaning service to go through periodically.

The $400 net does not take into account repairs, capital improvements or vacancy.

Then its a matter of determining what repairs need to be made, what they will cost, who will do them, and how long they will take.

If I get a house under contract for 70% ARV minus repairs, would it be unreasonable to ask the investor for a 50:50 split?

Thank you for your service.

For a small one (say under $15,000 in repairs), you can probably get away with handyman/vendors/etc. 

USAA has phenomenal rates and service and I'd love to continue to use them this time around. 

If so, is there someone you recommend that services Twin Cities, Minnesota?