As an Marine Officer, I've been on the receiving end of a phone call from my Commanding Officer that one of my Marines was having issues (ranges from late/no payment on credit cards, rents, etc). 

After 6months of jumping through hoops of securing financing as a self-employed person, searching for the right property, getting the offer accepted, negotiating roof repairs with the seller to meet the FHA guidelines, I finally got it closed.  

If its a 4 month flip and you had cash for it, with only 10k in repairs you would stand to make about 7k. 

If these mechanisms are not in place we seek out an amount from seller to be held post closing for repair or replacement of big ticket items.

My lease states tenant is responsible for pest control and appliance repair .

Seems like yesterday when he and I talked on the phone about me becoming a moderator.

After all these repairs thinking it could go for 750-800 maybe?

.$150mo @ $7k, $55mo @ $2k, $27mo @ $1k, $35mo @ $3k, $40mo @ $4k,$25mo @ $1k, $47mo @ $1k, $67mo @ $2k, $25mo @ $1k, $25mo @ $1k, $45mo @ $1k, $80mo @ $4k, $25mo @ $1k, $80mo @ $2k, $102 @ $4k, $110mo @ $4k, $90mo @ $2k.Loans - $470mo @ $10k, $591mo @ $15k, $270mo @$3k, $650mo @$30K (not in my name), Kid’s School -$900 monthSchool Loans - $785 monthCell phones - $200 monthPersonal loan to Dad - $1,000 month, $28k left.Cars - $730 @ $31k, $330 @ $17kCar insurance - $150 monthCable/Internet/Gas/Electric/Water - $500 monthINCOME = $7,300 monthBoth at 600 credit scores.We spend $10,300 per month above,we have FT jobs and drive Lyft make bring in $7,300 month.

I agree with your question about any building repairs, especially any major ones. 

The "need some work" ones don't bother me as I am handy and don't mind building a network to repair/improve the property.