Made the necessary repairs and rented it out. 

Siding is ok but needs a little repair (probably < $1k). 

I just paid about $2k to do a whole house but that included painting the walls a lighter color and repairing all of the small cracks and holes from the previous owner hanging pictures and shelves all over the walls. 

A bit dated and could use some repairs, but it's doing fine for her.

I am starting the rehab with what cash I have, getting the ductwork portion completed, the roof and outside repairs completed, etc. while I continue my quest for additional cash. 

I self-manage and because of the aggressive 15 year mortgage I take home just $450/mo which just goes into a savings account, so I don't split out repairs and vacancy. 

A couple things seems funky-1 - Why 6 months to repair if only 50k in renovations?

I'm willing to go ahead and apply for it, it just seems so inapplicable and absurd.

Before doing the walk through my estimated repairs will include.

If you are a squirrling away $25k every 3 months, you are way ahead of the game!