For our clients, we separate repairs into catergories: 1) Health & Saftey - highest priority to avoid lawsuits2) Property Preservation - don't want a $500 water leak repair to become a $5k repair later3) Government Required - for city & S8 inspections4) Marketing Negative Impact - who wants to rent a "purple" house?

This amounts to the second negotiation in any property purchase: Negotiating the Resolution of Unacceptable Conditions.

My markets are North ATL, Greenville, SC & Spartanburg, SC. 

How much money do I need , what licenses , where to look for off market deals?

Realtors & Investors [August] How is the market treating you?

This works if the long-term market rent received on an appraisal can support the DSCR and you are buying vacant.

I concur with @John Underwood's logic and agree with @Kevin Lefeuvre that Airbnb's solution works better (at least in my market).

But this has been going on for years where some pull out and others enter the market.

I have been building relationships in my target market and underwriting deals.

Do that in your post and ask what are you missing before deep diving and looking for numbers or marketing analysis.