You just have to know the market and stay within your budget.

Do you have a big chunk of cash and great credit, or are you starting on a shoestring budget?

My capex budget includes but not limited to: roof  25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac  20 year life span, bath and kitchen remodel 20 year life span, etc.

If the siding is brittle when you take it off, then consider budgeting for new siding in the near future.

Second thing is the $2,500 repair budget, and you mentioned this would potentially be your first property..repairs come up above what you expect MOST of the time and $2,500 won't get you much unless you plan to do everything yourself.

Everything went perfect for him, his contractors completed the job on time and under budget, the property is appreciating and he got it for a killer deal. 

There are no upfront repairs needed (or at least budgeted) is the property is in good condition?  

The investment that Jeff Vinik and Bill Gates made in our Channelside/Downtown market in creating an "innovation hub" as well as expanding our entertainment/sports venue have brought relocation of companies and talent to the market.

Any suggestions of places to stay on a budget.

I looked into the more northern ski towns but they are out of my budget.