How to budget for repairs and capex

[Tesho Akindele]

How do you guys budget for repairs and capex expenses when estimating cash flow. I have heard people recommend using a percentage of rent but that method doesn't seem practical to me for a variety of reasons. Are there other methods like a fixed dollar amount based on the size of the house, age of the house, etc that you use instead of a percentage of rent?

[Tesho Akindele]

@Nathan Gesner I like the idea of going through all the major items in the house one by one and estimating the remaining life span. I also understand how 10% of the rent is a good starting point, but some houses rent for $2500 and others for $500. Most capex expenses are going to be a similar price in both of those houses, so using 10% of rent might be a little bit less accurate.