I usually do a 30 month ROI.

Replacing the vinyl will rarely qualify because I am sure it will be greater than 1) Lesser of 2% of your basis in the property or $10k  for a small taxpayer safe harbor. 2)  a $2500 to qualify for a de minimis safe harbor, if replacing would qualify, usually not being a structural component of a building.  

.- Capex: no matter how many deal analysis I perform with the BP rental calculator for 5-30 units, I usually end up far from the asking price.

. :)  but a 50k rental on its face is usually in a market with little to no appreciation and a lot of expenses to run it..  

I'm a small business owner and my wife is a real estate agent (and ex interior designer), we both have 700+ credit scores, but not enough cash on hand to cover the difference between the usual 70-75% loaned by hard money lenders and the total cost of projects in the Tampa area.  

It can be, but usually not.

I usually just wait until people move out and then advertise and show them it, but I'm tired of them sitting empty for a month (or more) or having crappy renters that are looking for something short notice (because they probably got kicked out elsewhere).

Lol I usually log in on my phone.

I'm in Philly and on a duplex/triplex and owner occupied building.. you can put down 5%, conventional mortgage, 30 year term, as long as the rentals pay a good amount of your PITI, you're fine(4) YES.. usually (but not always) buying a property that needs some rehab work will net you more money in the long run because of your forced appreciation in fixing the place up (read: sweat equity). 

Ultimately,  private money lending would be a great option since they will not ask for as much when funding and usually can close quickly.