@Kevin Tuttle OK but the multiple properties that I own are free and clear when a tenant leaves I have no fear I have no mortgage to pay I do my minor repairs find another tenant And go back to making the same return Copy paste repeat buy a new property free and clear find Tennant when they leave no worries I owe nothing other than taxes and insurance at the start of the year

I would also increase your vacancy, capex and repairs # at the minimum as they are very low.

The property is under contract for about $140K, needs about $70K in repairs with an ARV of about $340K.

What repairs is he going to do?  

Get precise and accurate on repair costs.  

I went ahead and joined.

Thanks ahead of time for any pointers or advice. 

Those are the people that I think will either validate or make you re-evaluate your calculations.Try not to make pleasing the seller an issue with financing, If you go trying to support a 10 year mortgage when you don't have the financial cushion set aside or cash flow generated for repairs, CAPX, evictions etc. 

Can you stop making repairs to the property if your car breaks down or you have reduced working hours?

If you “closed” the deed should be recorded on your name, and any mtg/liens paid off.....don’t know why you would care.Please don’t tell me the seller’s contractor is supposed to be repairing “your” house after you closed.