@Jonathan Smith our payments should be minimal on the property, so my thoughts are as long as we screen tenants and keep vacancy down, we should be in great shape. 

Coming from someone with minimal construction knowledge or experience, how do you gauge that a project is a certain percentage complete?

I have not completed (or started) any deals yet, and am still attempting to get enough education so that I can minimize how much I will lose on my first deal. 

I understand you can minimize the taxes, but you can't avoid it.

He is willing to do a non recourse with minimal down (10-20%).

Overall my goals are to have the most efficient system I can that minimizes how many keys I need to have and give to any tenants.

If the low end on your estimate is $1,600 ($800x2), the asking price is $135k, and there is minimal work needed to have it rent ready, that sounds like a deal I'd be interested in.

All of which seem minimal. 

Investigate and offer a more accurate assessment of the repairs needed to bring the property to the maximum ARV as opposed to some wild guess in the dark or a repeated same rehab number for every property.4.

When interest is a minimal portion of your mortgage payment every month, your buying power will be naturally higher.