So it sounds like I need to figure this initial involvement of the contractor as cost of analyzing deals. ...because if the contractor comes back with an estimate of repairs that is too high to make the deal attractive then I'd be out that fee for his service.

I called a plumber.....they came out to fix it.....Now everyone is happy.Since you're in the East Bay like me, I would suggest you have your property manager in Cleveland give the tenant 24 hour notice that they are going to come into the property to see if they can figure out what's going on......They may find or hear something that may not intially be visible but if they run some water faucets and or flush the toilets and water keeps dripping or running afterwards you can start to get to the root of the problem. 

There is no real figure to put in into a project, not even a ballpark.

I figured the bigger the crisis situation leads to the bigger the motivation to sell.

Its no problem for someone to do poor job finding MFR online or via broker and then market it to investors. the question is how good is the deal and if the wholesaler figured it out - i mean the upside in the deal and why you should buy it...??!

Once I take a deeper look at the numbers and inspect the property I will have to figure out the best approach for financing.

THEN you figure 'worst case scenario'.  

I figured out I need to make about $6000 a month and am wanting to reach that goal in 5 years.

Figure out what makes a good deal and a great deal.

And I am in between careers, trying to figure out how I will make a decent living and not burn all my cash on life expenses.