Property Cost of Ownership Breakdown

[Jeremy Peters]

I'm looking to get into buying rental property in the Dallas/DFW area and I would like to get some feedback on my research to budget for capital expenses. 

My goal is to develop good capital and maintenance budgets.

Description         Price Range      Life of Item       Equivalent Annual Reserve Ranges

Water heater        $900-1700           8-12 years       $75-213

Central heating    $6K-8K               15-20 years      $300-533

Central cooling    $4.6K-5.6K          15-20 years     $230-373

Roof                     $14-18K              10-15 years      $950-1,850

Foundation          $3.7K-7.5K           15-20 years     $185-500

Total annual capital reserve reserve $1,740-3,469

I did the roof estimate based on a house size of ~2,000 square feet.  This is probably a larger house than I would like to target for a rental but I wanted to start with something. Roofs get pretty beat up in DFW and I'm assuming would be covered by homeowners insurance.  I think I would only have to pay my deductible which I believe is based on the value of the property, but I have never had to replace a roof yet.

Am I missing any major capital expenditures? Are my cost and product lives reasonable?

I'm planning to develop a spreadsheet to estimate maintenance costs.  I'm going to model out paint, carpet/flooring, and landscaping.  What other items should I include?