This flip project is a “cosmetic plus” flip (new roof and everything else is all cosmetic, $25k budget).

For rentals, you can find properties that need a simple cosmetic job that'll refi for 190-200k and bring in 1200-1300 in rent.On top of that is inventory, obviously, inventory is scarce everywhere, on average my team and I will clear just under 60 properties a month, and the largest majority of that comes from west + southwest.

only needs minor cosmetic from what I've seen in pics and what owner has said. also has added valued due to a converted garage one bed/bath studio, office, etc. thanks in advance for any advice

It is probably cosmetic and not a big deal.

If I were you, I would fine tune these details first and then worry about the cosmetic details.

Don’t get me wrong, I think there is a very good chance that these cracks are mostly cosmetic.  

is the work that needs to be done mostly cosmetic or is there a lot of high dollar mechanical problems (plumbing, heating, electric)?

For most rehabs that are cosmetic or have basic mechanical needs (HVAC, water heater, roof, etc) the PM can handle a make-ready if their team is big enough or coordinate with an outside contractor for a fee (~5-10% of the construction budget). 

My advice - If you buy a smaller 2-4 unit in Troy that's a good deal, just expect that it is unlikely to be a cosmetic only rehab, you need to budget on major structural/mechanical rehab in most cases so that it is solid when your tenants move in. 

I toured one of their projects while it was in progress and can say they do true gut rehabs (unlike a lot of the turnkey rehabs which are just cosmetics).