I do not do any of the repairs.  

Just use comparables like an appraiser would for this type of property.As a beginning wholesaler, you need to focus on discount from fair market value (after repairs). 

We will be buying and repairing/rehabbing 2-3 properties per year in that area over the next 5 years.  

There are a number of items that need repair including major fire code violations. 

I am not a CPA, but it also opens up a litany of tax advantages because you can now drive certain of your activities through the LLC as expenses-- mileage and gas, networking lunch/dinner/happy hour, repair costs, the list goes on.

Below are my numbers.Purchase price: 80kDown Payment: 16kClosing costs: 2kAnticipated Rent: $1150ExpensesVacancy: $50 (some might say low, based on my experience, I think this is reasonable)Insurance: $20 (I have a separate umbrella)HOA: $197 (well run association with decent reserves)Repairs/Capex: $100 (I don't have a ton of experience, but I think this would be attainable.

I get to keep a little over 50% of rental income each month after mortgages, bills and repairs.

They tell me it's 5k worth of repairs (I never tell them I am a contractor) I get there it's more like 20K.

This frees up your capital, cash flows the property, because  you don't have to worry about repairs or vacancy. 

Professional electricians, plumbers, HVAC,... are trained to handle repairs and brand new installations, and can be held accountable if they do sub-par work.It's a mental trick.