I pay 1400 a month in rent and can definitely afford this, however the banks won't approve me for anymore then around 90k.

If you don't own any property and can have roommates, I would look for a place you can afford. 

This is a great property that we would love to invest in but would like to get some understanding on how we can 1.) afford these capital expenditures early on and 2.) what we could expect to pay for those expenses.

Once you know what you can afford then get an agent and start looking for what fits your budget and makes good financial sense.

I get an affordable mortgage rate while im fixing up the property.

We still have affordable homes [under $70k that rent for $800+] and lots of jobs and even more renters.With that said, I always suggest looking within an hour or two of your home.  

The Home Affordable Modification Program (HAMP) is 6 years old now, and it’s been extended again.

That also includes non-homestead property taxes, and 10% maintenance.Then I can only afford to put down 5% towards the purchase of the new house.

@Kimberly T.- that sounds like what I am moving towards, thanks!

I currently wholesale in Charlotte, North Carolina an came across a great multifamily deal that could be bought for around 40 percent of its ARV.While trying to get it under contract the property required a deposit that I couldn't afford.