In other words, if I opted to make large scale improvements to my other properties (new roof, kitchen, bathrooms, ect) would these expenses help offset the profits of the flip? 

That means that I got back $3,000 the first year…a 100% ROI.The next year, I had a roof leak that damaged the ceiling in the dining room.

We had to kick back an additional $900 for some repairs that we were not able to address because of a snow covered roof all winter long.After all other fees and holding costs we made a profit of $45,000.The total amount of cash that was required for this deal was $20K.

Things like appliances, roof and carpeting replacements can be costly.

.* Full Home Inspection - Whether you go FHA or Home Possible to House Hack* Mechanics and Roof should be solid* Cosmetic upgrades don't turn into full gut jobs.Let me know if you have any questions.Regards,Joe Scorese

There were times the expenses like new roofs, furnaces, and damages, may have gone over the $100 a month for a property that I had budgeted, but I had enough money in Escrow to cover those properties, and so I never was left with a negative amount in my bank account.  

The implied warranty of habitability requires landlords to maintain their rental units in a condition fit for the “occupation of human beings.”86 In addition, the rental unit must “substantially comply” with building and housing code standards that materially affect tenants’ health and safety.87A dwelling may be considered uninhabitable (unliveable) if it substantially lacks any of the following:88• Effective waterproofing and weather protection of roof and exterior walls, including unbroken windows and doors.• Plumbing facilities in good working order, including hot and cold running water, connected to a sewage disposal system.• Gas facilities in good working order.• Heating facilities in good working order. • An electric system, including lighting, wiring, and equipment, in good working order.• Clean and sanitary buildings, grounds, and appurtenances (for example, a garden or a detached garage), free from debris, filth, rubbish, garbage, rodents, and vermin.• Adequate trash receptacles in good repair.• Floors, stairways, and railings in good repair.In addition to these requirements, each rental unit must have all of the following:• A working toilet, wash basin, and bathtub or shower.

Are there any foreseeable expenses coming up (e.g. roof)?

Income:Rent = $3570/mo (from the owner)Laundry = $40/mo (my estimate)Total Income = $3610/moExpenses:Operation = $1017/mo (Vacancy 5%, Maintenance 5%, PM 10%, CapEx $295/mo)Fixed = $1047/mo (Taxes $8300/yr, Insurance $2000/yr, Utilities $134/mo, Lawn/Snow $60/mo)Total Expenses = $2064/moNOI = $1505/moCapEx is based on my spreadsheet adding roof, paint, HVAC, water heaters, etc, taking into account the estimated life span and replacement cost of each.  

If the roof rafters have enough overhang and the ground doesn't slope towards the house then I would say you're good.