Stay conservative with 10% for CapEx until you can have the property inspected.  

You will probably have to make ready 90% of these units when some one leaves.After doing my first couple deals I am a strong believer in staying really close to 20 units (or More) at a time give or take a little based on the deal.Remember you need a reserve account, and at the $1000/month you are probably looking at 4-5 months just to build that reserve account. 

@Ryan Chandrapaul You said this is your investment property and you need to stay in propertt for 1 year.

Generally i try and stay away from contracts and deal with straight purchases but given the condition of the house i do not have sufficient funding to buy the house outright.

I'm trying to stay ahead of the process by looking for a reputable and trusted home inspector now.

@Mike DornemanI agree with @Brian Garrett, and if the existing tenants don't like the new leases, they don't have to sign it or stay! 

And allow yourself to stay within the price range of property that maximizes your noi2.

and we aren't afraid of a property needing some cosmetic TLC -Duplex, triplex, or quad that we can house-hack; 300k max budgetSingle-family home (3 bedrooms max); would like to stay around 150k if we go this route.

You will be trying to break into the market and may be too late while those that stayed in from a knowledge perspective have an edge over you.

The way that I look at it is.. you are going to find many people who are emotionally attached to their home and will want to try to save it and attempt a modification to stay in their home.