There isn't enough meat on the bone to cover capital expenditures, repairs, property management, HOA fees, and other costs.

Can you have the seller agree in the contract to turn over all actual data, leases, capital expenditures, tax returns, etc.?

Greater leveraging can get you into deals and generate a decent IRR, but you are at higher risk of something going wrong where you end up cash flowing negative or can't deal with a major expenditure.  

Do cap rates consider capital expenditures?

Be sure to calculate licensing fees, utility costs, taxes and insurance, leasing fees, maintenance costs, management fees and capital expenditures into your cash flow analysis.

When I asked for a list of potential expenditures, they had none.  

My thought is since the windows are already compromised they could easily deteriorate further with normal use and then it becomes a capital expenditure.  

Figure out approximately how much money per door you will receive in cash flow on bigger apartment buildings (make sure to add in property management fees, future repairs, and future capitol expenditures).

I just purchased a property in Texas with my IB bonus from last year that cash flows $286 a month after taking into account:Taxes - $2561 a year Insurance - $646Maintenance - 10%Management - 10%Utilities - tenant pays for water, gas, and electricRepair (Capital Expenditure) - 10% a yearCap rate is 7.8% and this particular area is appreciating like crazy, at least from our analysis that we did at GS.Happy Investing,Crystal

Burial Rights Act G.