Maintenance and Cap

[Sean Kuhn]

I purchased a property recently for X amount of dollars. I put 12k into it. This was for appliances, ac, electric and other cosmetic stuff. When figuring my cap I allow 20% for vacancy and maintenance and also PITI. Now when figuring my purchase price do I use the original X because I'm allowing 10% for these repairs and it will even out someday, or do I use X + 12k. I was thinking just using the original X number because now the ac won't need repairing for another 10 years, appliances are good for 5 to 7, etc. and I think over a 10 year period it will even out. What do you guys think?