That rare is the total housing budget allowed - for rent plus utilities. 

But overall the major things would be new and I would still need to have a repair budget 

Prior to my offer, I had roughly budgeted 10k for siding an all other exterior rehabs (facia, trim, paint).

I worked for very competitive flippers in San Diego, but decided I’d rather explore other markets that fit my budget.

You should have an idea of what you are looking for an investment1) Are you looking to invest in a A Class, B Class, C Class or D class Neighborhood2) What is the budget of the home you are looking to purchase3) Do you have a preference in neighborhood4) Are you looking for a SFH or MFH5) EtcThe real estate agent can tell you based on what you are looking for if your budget is reasonable.

They don't budget for things like Capital Expenses, maintenance or management, and buy the first thing they see where the rent covers all (or most of) the mortgage payment because hey, that's "Cash flow!" 

Compete with I-buyers with emphasis on being local.If you have a big budget you can do radio, TV and billboards.

Interestingly, after #1 of staying within budget, the second top-choice is air conditioning, followed by # of bedrooms.

Don't forget to budget in a little extra time for the first month or two to wade through the previous owners' misteps (and there always are) and to sort out the old payment process versus your new one. 

All depends on the deal and if the borrower already has an appraisal done, as some lenders will accept and already completed appraisal and can close as soon as they have all of the standard documents i.e. bank statements, application, budget etc...Hopefully that somewhat helps answer your question!