it's because  they just dont want to deal with the repairs of the property and also don't live in the area

Plus, you’ll end up managing tenants, repairs, etc when I’m sure there are better things for you to do while in school.

But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).

My background is in Finance so I am good with numbers, but don't have a lot of experience evaluating how much repair work a house needs to get it to rental material.Here is the property I am looking at:https://www.redfin.com/WA/Tacoma/506-S-38th-St-984...Here are my questions:- If you were a flipper, how would you structure your analysis of the repairs needed?

I’m interested in their perspective on what is needed to properly repair the situation.

I’d also ask for some pointer regarding staging and minor repair than could make the apartment stand out from the rest.

If it's finished basement, you have trim and drywalling that needs removed and potentially some framing .....but at 8 inches your wiring and recepatcles should still be ok.Budget for the repairs needed and offer accordingly.

I’m a interNACHI certified inspector, and I’m currently employed with a basement repair company, and understand the risks and cost with those major repairs (currently doing sales).

With 18k out of pocket for repairs because of the loan amount over purchase price & $400 monthly income, that's a 26.7% return. 

Also, saying that you need to get the concrete done anyway and don't have that kind of cash on hand leads me to believe you might want to think about getting some stronger cash reserves or your own lines of financing before proceeding; I've got credit cards with credit limits double that, where I could self-finance those kinds of repairs if necessary, but that's not a big enough hit that I'd have to worry about taking out loans on paid-for houses.