So you can see why no one would buy it (unless they were in a super-high appreciation market and were essentially speculating on further appreciation.)

This strategy is essential as a wholesaler to never lose money.

So essentially I can use an FHA loan for any property, it just needs to be inspected and approved by the FHA first?

You can essentially pull most of your initial investment back out of the property minus any repairs that you do.

Essentially the CAP Rate is measurement of how much is paid for every unit of operating income. 

Heating oil will also jell at very cold temps. 

Sanding, caulking, primer and 2 coats isn't all that expensive for the doors.Changing hardware is fairly cheap too, they have all kinds of places online that offer reasonably priced nickel/oil-rubbed bronze hardware.Porcelain tile counter tops with a hardwood bull nose are very cheap install and easy to do yourself.  

The way I handle my personal finances right now is essentially the bucket method.

... essentially, each unit has a wall with a space between them.  

My thought behind this is if you don't have to give a down payment with the seller and you were able to keep a tenant in their for the entire time leading up to the refi you would essentially of paid nothing during this time and gotten it for "free".