Lenders don't want to deal with defaults so they put up obstacles to safe guard themselves in the form of cash requirements.Plan of having 30%+ of the total project cost in reserves.  

We do see some buyers picking these up now, so just depends on your market and what you have to do to get the contract.This looks like lenders estimate to me....so they like to be safe and estimate high. 

I think it would be wise to get your own eyes on the property, and setting up the furniture, but I bet you could hire it all out if you wanted. 

I was online today asking about "safe" areas and I got a very mixed bag of commentary.

I don't make very much money at the 9-5 but you can bet I track every freaking dollar coming in and going out for my properties.

It's doing my cashflow wrong on capex. I don't plan on depreciating a CURTAIN ROD, for heaven's sake.  Is there a way to tell it it's going under the de minimis rule????

@Casey Ricks, your best bet is an investor in my opinion.

Your best bet would be to buy the house from them outright.

Using rough estimates I bet that would get you to your $4500/ month free cash flow number.

Your best bet is to use a PM, or just try to invest locally.