With a projected 5% vacancy rate, and 10% factored in for annual operating expenses, and a conservative $800 per month rent, I'm still calculating a Cash on Cash ROI of 19%.If possible could you provide slightly less subjective feedback, and share with me what you think an acceptable cashflow should be. 

There are a lot of factors here...are their liens on it?

Because of these factors, I'm not really in a position to buy any of these buildings at least in the near term. 

Now, if I had 5 people I go to regularly and I always get 3 bids for every job I don’t necessarily take the lowest bid, it depends on several factors.

I knew you were anxious for an answer, but my brain works better in the morning than at night:)In addition, if there were any other liens on the property that got wiped out by the foreclosure, the redeeming person will have to pay all of those other liens, also, to those lienholders. 

And congratulations on venturing out and starting your own management company.Typically, this will range based on several factors - a couple of which will be: 1) your vendor relationships and, 2) your property management software.

Factor in any deferred maintenance you may have to do (i.e. plumbing, landscaping, paving road, etc).

Where experience will be a bigger factor would be on short term rehab, bridge, ground up deals or on perm loans for pure commercial properties (5+MF or other commercial types).

@Jason DiClemente this is more hypothetical, but I see where I messed up there not factoring the 70% LTV. 

I am still waiting for an insurance quote to have all my numbers to completely analyze the deal.. but I have the general picture down its looking like after everything I would have around a 25K profit.Pro's in my mind=-It's a complete renovation so I feel like that would cut out the "unforeseen issues" factor.- I am very confident in my ARV estimate because I just bought a home on the same street a few houses down- I will be a real estate agent by the time I would go to sell this house so I could save money/build my network etc..- The home would likely not be hard to rent, it's in a great neighborhoodCon's in my mind= -Its a huge project and I've never handled a straight up flip project let alone one this big.