Each person experience and circumstances are different and in general not a good practice to compare perceived progress with others that have started out as a "Rockstar" as we don't know the background information or how accurate it is. 

Anything that even remotely beats inflation has some degree of risk, including risks to relationships, personal well being (generally mental well being), and those risks unforeseen. 

Extenuating circumstances that are out of the control of the tenant also take special consideration.

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves: Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

FHA will allow one or two loans depending on circumstances. 

Many times they don't know that they & the estate aren't on the hook if the balance exceeds value (so they avoid doing anything out of fear), but even if they do what comes up in such circumstances is they have no real motivation to take any particular action.

I would make sure to put aside extra $$ to handle the unforeseen.  

People make the mistake of thinking what a property could be valued at under different circumstances, and think if they are buying under that price that they are under market, and thats simply people telling themselves a lie to make themselves feel good that they got a good deal.

The expenses may be considered start-up expensesIf you did start a business, the payments may be either currently expensed or capitalized.A lot of different circumstances that an accountant will be able to figure out.

If so, what were the circumstances?