The added costs and length of project are dependent on so many factors so it is difficult to answer that.

With all of these factors Orlando is a very sound location to be investing for long term rentals.

Lots of factors @Robert Mciver...There's 6 universities in the city.

I've seen no updates on what that regulation would look like.The other major factor is the HOA or condo association regulations, since many Northern Virginia communities full under one of those umbrellas.

If you at least factored in another 5% for Capital Expenditures (which I still feel is low) then maybe you can get by with 5% for repairs, but you currently have no money being set aside for big expenses like roofs, water heaters, furnaces/ boilers, siding, any paving etc..

There are a lot of factors when it comes to determining your maximum DTI ratio (credit score, cash reserves, etc).

Real estate rarely goes as planned, and you need to factor those unknowns as an expense.The dream is to acquire a home at 70-75% ARV.

So unless the property is 100% turn key ready to rent and the Seller pays all of your closing costs, you must factor in the total capital to get the property online and ready to rent, otherwise your numbers will be incorrect.Now, knowing what we know about what cap rate is supposed to measure, you can see why as the amount of capital goes up or the return goes down, the rate itself decreases.  

That should be a factor. 

Time is just as big of a factor as profit.As far as how much money to put in, it's impossible for us to tell without pics of the subject property and pics of the comps.