If I have to replace the toilet every 4-5 years, I'm looking at an $800+ recurring expense, which will really hinder future returns for this property.  

Something that breaks down all of the expected recurring expenses by cycle... 

I still manage the property, so there are no recurring monthly fees.

The recurring point I see in this deal is synergy, the relationships made the deal.Your partner's brother who had the software.Using the seller's broker.Your relationship with HML to get you an amazing loan.Partnering with another investor for the rehab money.Your courtesy with your tenants will keep it cash-flowing.Congrats!

Hey guys,I wanted to reach back out to set up a second Boston real estate meetup (and hopefully if we have enough interest we can make these recurring).  

I was wondering about the non-recurring costs like fees and expenses associated with processing a mortgage in the state of Florida. 

You could make it a recurring meeting, you could invite some experts to come talk about something of interest, ... etc.This can get you going in terms of networking and meeting like-minded people in your area. 

After a few simple Google searches on real estate-related topics, I noticed a recurring theme: BiggerPockets kept popping up.  

You should set it up in a way that you can see the trend (by month by property) so that you can see what's going on like missing rent, recurring expenses, missing/duplicate expenses, etc.

It's either recurring income or a huge payout sometime in the future.