This is how I renovated a duplex in 2020 with only $6,000 (entire 2800sqft interior painting, refinished/re-faced two kitchens and replaced all appliances in each with used/like-new appliances, new sinks, new tile backsplashes, new hardware, new sinks/faucet, 25% flooring replaced, and one bathroom (everything but the shower which was fine as-is).

Do you want something that is pretty much turn key (might need a coat of paint) or something that needs major renos? 

Omar - thanks for the post and  questions 1) yes - hold off on opening any new  debt if possible  as  any new  debt will indeed  affect your "  debt to income ratio "  and  lower  your borrowing power2) student loans are  tricky  - many are  deferred  presently  due to  covid  ...if you have  student loans - get  repayment terms in place so that the  actual repayment  amount can  be used in the   debt/ income ratio ...if you dont have any student loans yet - try to  delay 3) regarding rolling in rehab  costs to the purchase loan -  this really  depends on what  remodeling  you  plan on ...if its  realtively  light  rehab  work and not a ton of money ( eg...paint /   flooring  etc )  you  might  try to  minimize the  down payment / use a  reguyalr loan and  keep as  much  cash in hand to  do remodeling out of pocket  ( and  with using other funds)  ...if the  rehab is  very  large and  expensive - the   reno  203K FHA type loan is an option to  consider 

Third, there are many options and if you work with a flood insurance expert they will shop all options.

Have you shopped around much?

Building a relationship with a "smaller" syndicator shop may be the best move. 

He is also shopping for sub contractors for too long and leaves total only one or two of his low level workers un-supervised with no foreman 80% of the time.

That is only one service call and doesn't allow for painting the interior between tenants.

We put in less than $5000 which was mainly flooring, counter, and paint.

Backsplashes, paint, etc. don't require too much heavy lifting but can be an effective way to reach higher rents.