Capex is usually reserved for major improvements/repairs rather than for recurring expenses (like utilities). 

This time there was a lot less anxiety just because I had done the first one.

I have replaced several of the above only to find a recurring theme.  

I've heard a  lot of horror stories about other turn key companies from our clients and there are always recurring themes but in general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

You'll probably feel some anxiety about the next thing you'll have to figure out. 

I have an anxiety that I will owe too much to bank, feels like a lot of liability.

If I miss a couple weeks of lawn care I get a citation; hence lawn care recurring bi-weekly for 2 yrs ... the cost adds up and very well is considered preservation improvement (per Denise Evans).

Hopefully for everyone involved the power will be restored soon.I know the anxiety of stuff out of your control.  

If your management fee is 10%, that's another $3,240 in expense, leaving you with $8,352 before non-recurring expenses.   

My guess ---- he probably just wants to see if your offer would be reasonable to him without the anxiety of trying to haggle, as he probably assumes that you will be able to negotiate face-to-face better being that it is your business..