I might have them right but if I do then it isn't really a cash flowing deal so I would appreciate some more experienced eyes on this.Purchase Price $79,000Sellers is paying the first $2000 of closing costsEstimated Repairs $20,000ARV $120,000This is two separate homes on the same property both are pretty much identical.Conservatively looking at $650 a month rent for each so $1300/month incomeRDP Insurance $1668 annually for bothTaxes around $1200I am figuring 5.5% for all loan valuesUsing about $44,800 on a HELOC and $66,200 on a 25 year amortized loan.Figuring 30% for all repair, vacancy, cap ex, and property management My totals come up to like $46/month cash flow. 

Insurance, repair costs, capital improvements, utilities, trash, maintenance, and the overall cost of doing business has gone up so much in California. 

From what I understand, the repair expenses get added back to house basis price.

I do not know the condition of the roof but the top floor tenant owns the rooftop deck on the roof (however, I may still be liable for roof repairs?)

It will show you repair deductions, so you can get an idea of whether the tenants were constantly breaking door knobs, doors, faucets, etc or whether the repairs look more like non-tenant caused problems like electrical or roof issues. 

I'm also able to handle repairs and add some sweat equity to get this moving quicker. 

All you want is to repair any sections you need to (you'll probably find some after you sand), sand it down just enough to remove obvious signs of wear, putty up and color the gaps, and seal in place with a thinned sealer coat of oil-based polyurethane and three more coats.

Hello All: A while back I read a post about advice to landlords and PM's to advertise units under renovation or repairs units ASAP - like when the previous tenant gives notice or is evicted - even when renovations are planned, not completed.

This is to count for vacancy, repairs, etc.Again, I haven't been in the mortgage business in a long time, but I also believe with a 4 unit, FHA caps the loan amount at 90%.

ie, buyer must complete repair A before date B or they are in breech of contract and the property reverts back to you.