That means you will probably either pay a lot more and/or will lose a lot more deals before finally getting one.This is not meant to be discouraging, but newbies often quit when they find out how hard it is to get started, and the method you're using (FHA loan) will likely mean you have to have more patience than the average investor who already owns a personal residence and is looking to expand into rentals. 

What is the average cost of a new roof on a small house in Atlanta and a new HVAC?

The average tenant stay is one year.

Current rents are 25% below average for the area, and there's value add opportunity for sure. 

FirstTuesday has free forms for use in California: https://journal.firsttuesday.us/forms-download-2/

While any licensed, insured, bonded contractor is technically allowed to do the work, unless they have been properly educated on the 203k or have vast experience with the 203k, any average contractor will NOT now the paperwork, processes, guidelines, timelines, draw process, change order process, estimate/bid format, different versions of the 203k, and most likely won't have the financials needed to pay for the upfront materials and ongoing expenses, or anything else associated with the 203k and would be basically 'winging it.'

Whey you look at the averages of past due rent, assuming you believe them, they are high. 

For a very broad generalization, I would say NE Mpls is nice area that has gentrified in the past decade and now an average duplex there is probably around the 350k-400k range.

The PMI can average between 0.5 and 1.5 percent of the loan amount on an annual basis, so it can hurt your wallet.

You look up the reviews for the company that your insurance provider is sending to inspect the HVAC and find out that this company has a 2 star average review.