I have a $10k reno budget to add laminate when the tenants move out and create the third bedroom in the coach house.The fifth one had a huge updated upper unit but the lower is what they call a "Polish Flat" where the bottom of the window sills are right at grade and cause water to constantly come in.

Have you looked at the budget? 

The house is in the $120's and there isn't a huge budget to go moving weight bearing walls, so I just can't figure out what to do with this weird triangular wall.

I'm sure others can chime in with more details on what kind of percentages you need to budget for each?

I lived in Atlanta our winter are some what similar. have you consider on making your property  energy efficient not zero energy efficient but small percentage, Wrapping the boiler may help ,also suggest to your future tenants to get on  a flat rate with their utility company, Yeah they may pay more during the off peak seasons but at list they'll be able to budget, and you'll be able to market your rental unit as being energy efficient.

Just because there have never been any assessments, I wouldn't count on that going forward.I would try to figure up reasonable costs to maintain the land and parking lot to the standards I'd want, divide that cost by 3 and budget that amount (probably tack on 10-20%) for it each month.  

For some reason this universe works in a way that amazes me I just got a call out of nowhere from a realtor offering me another great deal that fits exactly my 7 figure budget. 

Assuming the ARV is 220K based on your information, if an investor is looking at this deal using 70% rule, there may not be enough budget for a proper rehab.

Each deal shows comps, the budgets, the demographics of the area, the target sales price, the purchase contracts for the property, and a target schedule.  

Going off the numbers above the profits would be best case 18% and worst case 2%.So if everything goes perfect, you sell it for $250,000 FSBO in less than 3 months after only taking 1 month to do all the repairs, financing it with a low fee, line of credit or bank loan, and no unforseen repairs then you will make about $45,000 profit if you buy if for $175,000 minus repairs.Now if it turns into the rehab from hell, you still have to sell it for $250,000 but after taking 2 months to fix things you didn't budget for and trying to sell it FSBO for 3 months, you decide to hire a realtor who then sells it 3 months later so you can pay off your hard money loan then you will only make $5,000 profit, but you would still have to buy it for $175,000 minus repairs.