I assume the cleaning crew will take care of the garbage at the end of each stay. 

The best way to make the numbers work is to limit the work to cleaning, paint and carpet and avoid expensive projects like roof, windows, replacing plumbing and electrical systems, driveway etc - as these take huge amounts of capital, but will typically not drive up the ARV by much.

Preapprovals generally are a benefit as they give you an idea of your buying power and strengthens your offer when pitted against other buyers (as Richard alluded to above). 

Even strainers need to be cleaned out now and then, but it would probably cut down on the frequency.https://www.crssupply.com/roof...

Start saving up boxes, wide markers, tape, trash bags, cleaning supplies and hire help to start packing everything on day one after the eviction.

Cleaned up land and Structure What was the outcome?

If you would clean up the mess and walk away then you need far less. 

On the exterior, removed all the overgrown bushes from the front and back, cut 2 small trees in front, planted some sod, power wash exterior of the house, and added mulch and solar lights.

Hi @Lance Bradley, leverage is a tool indeed, and like all tools they can powerful when used correctly and dangerous when used incorrectly.You can certainly do "more" with leverage than without it, and cash is "cheap" right now, but I'd caution you against running headlong into a situation that many run into on this line of logic.  

Would like some advice on this deal - thank you in advance SFH under contract for $106k (current owners purchased a year ago for $59k and did lipstick on a pig) - neighbourhood nice b /class neighbourhood - no crimeInspection brought up a few things Asbestos tiles in the basement, im told they are fine but I would prob want to epoxy over them to be safe though not needed I just dont want to have anyone at risk ($1500)Roof will need to be replaced in the next 1-2 years ($8-9kish)Garage door needs to be replaced ($700)Stairs and driveway need to be addressed ($2k)Had drain scoped needs to be cleaned out ($500)AC is working but on the way out ($2k)a few windows needs to be replaced and smaller stuff etc - looking around 15-20k out of pocket to get home up and running Now all done up this home will appraise for $120-125k and rent for 1400 a monthhowever and I understand the sellers want to make some money (home was sitting on the market for awhile) but this is a pretty big list of big expenses and while I dont mind taking them on to be all in with zero meat on the bone from an equity standpoint seems not ideal as I will be locking around 40-45k up in the property.Insight appreciated - thank you for getting this far