After you own a home for several years you will have capital expenditures no matter how well you take care of it.

Take a good long look at it and make certain that the burial is taking place at the property you own. 

I would agree with Jaysen on the 15% for Capital Expenditures and repairs.

CAPEX are capital expenditures ie big ticket items. roofs,floors, HVAC, etc.

You don’t include capital expenditures, leasing concessions, financing expenses, etc in your calculations of NOI.

CAPEX or capital expenditures of $200 per year.

There’s no ongoing expenditures.

To get much higher you generally have to buy something where you add the value (adding units / bedrooms) or you are buying a dated property that has a good cap rate - but will experience high maintenance or capital expenditures.

Set aside half of the money for holding costs, repairs, capital expenditures.  

Still has some challenges (Flood zone, Capital Expenditures) about break even on this one.