Net income is what gets taxed and that is different than cashflow.If you are managing your business correctly, usually cashflow is higher than net income because depreciation expense lowers your net income and depreciation is a non-cash expense.

They had the appraisal for almost four weeks but told me I had two business days to make repairs and get it reinspected. 

so if this is your very first deal - i would pass. 

The fact that you’re not seeing positive cash flow for a few years is something to weigh carefully—sometimes a slightly better cash flow deal in a different area might be worth considering.

It's a great opportunity to buy them because you can get a smoking deal....but trying to sell them is incredibly hard right now.

I'm ultimately looking for 5+ unit deals but understand that 99.9% of the deals that come through are going to be SF and Duplexes, and that's okay. 

Who has ultimate ownership of your business, you or others?

If you can work remote, I would choose a market where you would like to live and where you can invest in deals that cash flow.

What made you interested in investing in this type of deal?

This is what I have done with a more extensive rehab with my GC, but wasn't sure if this is standard for smaller repair budget and dealing with a handyman / sub directly.