. = operating expenses.Net income - operating expenses = Net Operating IncomeFrom NOI, deduct reserves and capital expenditures (CapEx) for replacement of obsolete replacement (parts of buildings that come to the economic end of its useful lifespan).What's left is EBIT = earnings before interest and taxes. 

If I were to repair/upgrade for rental purposes i am estimating about a $15,000 expenditure, let's call it $25,000 due to unforeseen items that will definitely pop up. 

I have kinda had a realization about capital expenditures on Mobile Home Parks.

. $60k on a cash out refi would leave me at 80% LTV cashflowing less than 200 per month not including capital expenditures and maintenance.

The basic formula is (total municipality expenditures) divided by (total assessed value of all property in the city) = tax rate applied to all property. 

Can't speak for the others from first hand research.Rules vary in terms of the threshold for eligibility, eg: >2 or >3 units, rate of growth allowed each year, rate at which capital expenditures can be translated into increases.

Vacancy,repairs and capex(capital expenditures). i allow for 23% of rent to be uses for these expenses,or $552 per month.

@Travis Winn Are you ever going to do capex(capital expenditures)?

You may only receive around $200 - $400 in cash flow from a rental property each month after all expenses, your mortgage, and the money set aside capital expenditure expenses. $400 a month in potential cash flow may not be enough to pay for another property after one year.

Even with reserves accounted for before cash flow, a major capital expenditure (especially early on) will not just wipe out your reserves but also could easily wipe out years of cash flow at a thin margin.