If I end up having to go at full asking price of $89k, a 50K renovation budget would bring total cost to 140k, which I think is the max I'd be willing to go.

You can get the projects turned around fast and under budget...So, it's actually the cheapest way to scale your business.

On the $500 annual repairs....even renovated properties have unexpected repairs so you will still need to budget for it!

My thoughts were if I used my R/E license to focus on selling to buyers Fixer uppers that are significantly under their budget.

But every year they send out a budget showing the various income and expenses as well as future maintenance required to improvements and their remaining service life (road, pool, fencing, pool furniture, tree trimming, signs....) and their expected replacement date.

This property def needs new window but its a bit more pricey than i had expected, and throwing my budget off a little.

Our budget is around $500K ( Looking for town homes/condos) with 25% down. 

I have budgeted for a $40,000 renovation that includes unforeseen circumstances. 

Also, if the house has a new roof, new water heater, and furnace, and/or newly painted exterior then you may be able to justify decreasing your budget for capital expenditures and repairs/maintenance.

There is room in the budget to add the new cabinets, but I would like advice whether or not it's worth the extra $2100 to replace them.