Earlier this year an inspector saved me a potential $20,000 headache by finding that the septic box had breached, and needed to be replaced or else the back yard would likely be a sewage pit in less than a year.

I've taken it as a place to make local connections and learn what I can, but I would never suggest it as a replacement for BP.

Ok, sounds like it might be better if I wait a year till I have $150k in cash - then I can operate at a higher price point by buying $100k+ houses.

Does this sound like a solid strategy and dodoes anyone have any other advice?

Yes contractors charge more in the Bay Area than other places in the country but $200k sounds reasonable.

Sounds great.

We ended up having to do a lot more work than expected (including a new roof, water heater, pulling out ceilings, etc) and also did some work that wasn't "needed" like insulating and replacing the ceilings of the top floor. 

HVAC service call for no heat/air or plumber to fix leak or regular grass cutting) and it also assumes there are no capital expenses ever (ex. need to replace water heater or furnace).Looks like there's plenty of a cushion to account for those things, but 35% is if everything runs perfectly forever which isn't going to happen!

I'm not talking a huge budget to replace here, but it keeps happening.

@Andreas Galloper that sounds good to me.