If you feel confident in your ARV and reno budget then you can't raise you bid at all. 

I have a small mini storage project and raising $165K equity from mainly friends/family/inner circle.  

I am losing cash every month, but over time, my property manager and I will raise rates to start to cash flow.

I want to begin building something great that will eventually pass onto my children and grant them the financial security that I was raised without.

:Pwasting my raise money on too many material things

Born and raised in Milwaukee.

Which worked great as I raised rent by $125mo!!!

Maybe rents have not been raised in years; you maybe can get rents higher in line with the market.

On the other hand the advice to buy every 18 months, hack and move leaving a tenant behind, is a good strategy, if you can not raise the down payment. 

Loooong story short, my HOA: Can't afford to make the repairAre getting bids to fix the roofHaven't fixed it or done anything about it yet (it's now March 11th)Will probably ask for a special assessment in the near future and/or raise our duesThey have no real timeline for the repair and "thank me for my patience."