Your numbers are great in theory, I'm not a debbie downer just a realist BUTWhat happens when you get one bad tenant and they punch holes and mess up your place and you need to evict.

If there is no storm, but the roof has deteriorated to the point there is a hole in the roof, there is no coverage for the roof or the water damage.the first example has an Occurrence, the wind storm. 

It seems as though there are many loop holes to jump through to get funding. 

So day 1, you're in the hole.  

We kept our noses to the grind stone and slowly started to climb out of the hole.

Painting - there are holes from hanging pictures and some spots that need touched up.

Theres rusted out junk all over the property, the property hasn't been touched (mowed or pruned in a very long time), there's a hole in the back roof over the porch, and the the inside needs considerable work.

Units are rough and need rehabbing.Offered 200,000, and we are in contract.Biggest inspection issues were mold and foundation, which was affecting the roof, and a hoarder tenant Brought out a structural engineer; foundation and drainage issues $6,500-8,000.

I used the paint to repaint a brick wall and repair a wall a plumber created an access hole for.

For the same effort, I could have a $250,000 note, with better characteristics.I'm sure that Jay Hinrichs, Don Konipol,  or Bob Malecki or any of the other note guys here could poke some holes in this, but it should be in the ballpark of correct.Hope it helps.Good Luck!