(Food for thought)10% for Cap Ex & 5% for maintenance sounds fair and consistent with many BP suggestions.If it is value add and you do renovations, then hopefully your place will be "like new" and won't have many of those repairs/maintenance/cap ex issues early on. 

I have been actively buying single family value add rental properties in Columbus, Ohio for the past 2 years.

I would also speak with a knowledgeable real estate agent in your market and ask them what repairs they recommend and what the after repair value will likely be when finished. 

I would try to find people who are in the position you want to be, try to provide them some type of value, and ask how they did it. 

If it's being valued using comps (since they are 1-4 units) and not using NOI and cap rate like commercial properties, the return might not be there at the exit. 

That seems to be the main place people get value out of DSCR is if they cannot qualify for conventional financing. 

I believe that this is due to (finally) rising interest rates deflating asset values, which is highly correlated to the exponential increases in income for top earners like CEOs, executives, money managers, RE investors, and Private Equity Groups.To me, the only logical stance is "rational optimism" (I heard this term from Morgan Housel).

However from my observations the squatter occupied properties tend to be in lower barrier markets and I wouldn't personally want to spend my time and effort trying to create value in such neighborhoods.

100% do the queen . it will add value to your unit and increase traffic.

The unit may also appreciate in value.