Each unit could rent out for about $1,400.Required repairs due to city violations include (according to contractor quotes): $27K for brick work; $16K for roof (flat roof); $18K for wooden porch.In addition, we anticipate deferred maintenance of about $61K for tuckpointing the masonry (3 walls), $13K for HVAC, $8K for bathroom/kitchen renovation, $4K for electrical/plumbing, $9K for footings on foundation beams (foundation seems ok), $5 miscellaneous.

They'd anticipate your needs and have the tools and materials you need for the task at hand.  

My focus is Buy & Hold rentals with the anticipation of doing a flip here & there only AFTER I'm fully settled in Omaha. 

When all is said and done, I anticipate the numbers to look like this:Gross monthly rent: Conservatively $4,000 (although $4,800 is realistic)Taxes: $6,500Financing: owner is desperate to be done with the property and is willing to finance a 30 year mortgage at 5% interest with no money down.

I don't anticipate rates to be this low for ever so we are locking in as many 30 years loans as possible!

In this scenario, as you anticipate, you probably will not be pleased with the outcome.  

These will generally be under capitalized relying on investors returning to the brokerage operation, their anticipated cash flow and availability of funds.

We anticipated Wells Fargo will be $470 more and a higher rate but we know they will get the loan processed quickly.  

It should be noted that prices MAY hit a plateau for a bit here as the Fed is anticipating 3 interest rate hikes for 2017.

After $30-40K rehab I'm anticipating between $8K-11K per month gross rents based on my other rental I have.