I am a new BP Pro member and have spent the last couple of months in my area looking for great deals - any of the properties worth purchasing just seem to require an extensive amount of work.

As described in the investor reports, significant amounts are being spent on renovations/improvements and acquiring additional mobile homes, which over time will increase the portfolio value significantly.  

And I'm not sure why you single out your flooring because the concept applies across the board.In your particular example, you spent $3,500 on flooring, and $500 has been depreciated.

They asked for things to be fixed and as a Land Lord I approved, only to find out the money I spent did not get things fixed.

Purchase price: $182,250 Cash invested: $73,000- Residential area that is close to University of Rochester- Spent $20K in renovation of the aged unit and increased the rent from $750 to $1,450. 

In short, the deal has < 1% rule for rent to asking price and 50% can't be spent as expenses.

. * The amount of hours spent managing could vary, based on size of remodel and number of contractors involved (10 hours or 80 hours, paid the same).* The house could sit on-market a while, meaning the PM doesn't take a commission for 6-9 months on that project. 

The school spent $275,000 on repairs, improvements, made paymemts for 6 years, and paid us off.  

Your money is probably better spent on separating the meters and letting the tenant cover the electric bill.

Had I spent every penny that came in on rent each month, I would be seriously hurting trying to cover that.