It was a full gut job so I had to do the repairs before I can move in. 

I wouldn't do it unless you got a good deal, remember the banks going to let you refi up to 80%,also the property has to be rented out for 6months prior. if I were you I would aim a little lower with price jus incase any unexpected repairs and cash reserves

Buy high quality assets in areas with high demand so my assets value goes up and my rents go up a lot over time.

Military markets have their unique qualities but generally speaking I think they’re a worthy area to invest in.

Make sure the audio quality is good. 

He also was ok with us going FHA, since I am a contractor and our lender let us know it doesn’t matter who makes the repairs in the appraiser’s view.

You have significant repair costs that may have to finance to get done. 

As is and After Repair?

Sound concerned about the Reno and repairs, but don’t talk down on the house as the owner will likely take it personal.

For this reason, we establish set guidelines up front and then follow them. if we are within the guidelines, we do not seek additional approval for accepting tenants, drafting leases, repairs under the scope amount, etc.