If you can include the purchase price, repairs, and the closing cost into an HML then you are getting in with no cash out of pocket; it all depends on the deal and the numbers.

Do you think I should still have a contractor give me an estimate before I try to sell a wholesale deal or would that book give me the insight to at least get a semi estimate of repairs to be able to determine the (Mao)maximum allowable offer for the potential buyer?

This kept major maintenance to a minimum and some properties weren't touched for any repairs at all.

Income is $45,600/YearExpenses is $24,680(Taxes, Insurance, Utilities, reserves for vacancies and repair)So NOI is $20,920.After Mortgage is paid I have a seamingly attractive Cash Flow of $355, that's $177.45 per door!!

(.70 * ARV)- repair cost.

I agree with @Jon Holdman in regards to that you'll need some cash for maintenance, general repairs, etc… so you might want to wait.Also, if you're not wanting to get a 2nd mortgage to use as your down payment, you could ask the seller what he would take for all cash and then go to that same meeting and see if there is anyone willing to carry the full note.

Generally when I see lower quoted numbers they have patched repairs and have deferred capex which will come off the purchase price.

I've incurred some expenses with inspections, rental business license, some repair work done, and installed a security system. 

FM generally claims to have gotten an appraisal (or some sort of valuation) prior to listing and adjusted for damage, repairs, etc.

The escrow amount is either 25% or $1000 of repair costs.2.