How do you figure cap ex on condo doors?

[Robert Campbell]

When running my numbers, I’d typically figure in 10% for capital expenditures, maybe more. (Because I just shelled out $3,000 to have a tree taken down and $10,000 more on carpet and painting.) With a condo, the roof, walls, and outside are covered. So do I need to allocate 10% to cap ex when all I need to worry about is say... A hot water heater?

[Robert Campbell]

Great point.  Thanks!