Repairs $28,500 roughly $34k in ARV $85k Rent $875 Taxes $95 Insurance $75 Termite $50 Repairs $80 Cap.

We have two of everything as a backup like you, extra washers, dryers (gas and electric), stoves (gas and electric), refrigerators, dishwashers, sofa beds, modems, televisions and repair parts for all the previous items.We don't charge a cleaning fee because most of our tenants leave them fairly clean. 

Total repairs of around $150k. 

I currently work at a dealership an I also have have my own business doing windshield chip repairs, while learning how to evaluate an Buy deals.

The problem:  Jane Doe wants to sell but doesn't have the money to pay for new carpet/paint/gutter repair...  

The way you get around that is you write an offer with an inspection/repair contingency in place.

Since I can't prove it was them, I'm not making them pair or repair and am working tirelessly to track down and resolve the "issue".

I also agree that 3% for capex and repairs is pretty low unless this is a new build. 

All I saw was the work he had to put into turning the place over between tenants and all the repairs he had to make over the years.

Then take out 5% of gross rents for CapEx repairs and 5% for vacancy/non-payers.