They currently generate $1800 a month in rent but need at least $25K (maybe more) in repairs, some immediate, some not.

I will handle negotiations/finding tenants if we choose to rent/financials while my dad will manage the property and take care of any small repairs.

Also, I don't like when wholesalers make promises and say 'this house is worth x' or 'it needs x amount in repairs'.

I added 15% (completely arbitrary) to the $13k for any unexpected expenses during repair.

@Adam ClearFoundation repair

Is there a source for the following data;  I am looking for the "norm" for the expense ratio (based on either GPR or Gross Income) for individually metered garden style apartments in the south east and the mid Atlantic (Region IV) : Marketing Insurance Janitorial Service Lawn/Snow Licenses Miscellaneous Professional Fees Accounting Legal Property Management Fees Repairs and Maintenance Resident Superintendent Salaries and Wages Supplies Taxes Real Estate Personal Property Payroll Other Trash Removal Utilities Electricity Fuel Oil Gas Sewer and Water Telephone Other (whatever I missed)

A repair here, a fix there, I thought. 

Or 700 hrs of both is us combined.He did lots of paintings and repairs as units became vacant this year.What activities are qualified?

The 19%  repairs cost irregular as well as I had a tenant in the unit since 2015 who moved out in May, and the unit had last been renovated in 2013. 

Hi Katie, if they own it outright they could get a second on the home and you can use the money for the repairs.