I know you said you'd be doing property management (which I use 10% for in my calculations), so you save money there, but what about things like capital expenditures/deferred maintenance (I use 10% and this is in addition to ongoing maintenance expenses)?

Specifically, Vacancy, Repairs and Maintenance and Capital Expenditures are the three biggest risk areas in my mind in terms of using the correct assumptions.

@Justin Williams : How much do you make on an average flip in dollars and as a percentage of your total expenditures on your projects?

The most information you will get is usually after you have a signed contract and request the condo docs containing the latest information from the association, however I recommend getting property manager information and calling in advance of a contract to ask key questions about financial stability, budget, upcoming capital expenditures in addition to closely scrutinizing your projected cashflow to ensure that you can still cashflow 5-10 years out with an acceptable to you cashflow with a modest rise of the condo fees. i.e. so if condo fees are 160, what would your cashflow look like if they were 200?

Do a capital expenditure analysis to see which option best fits your timeline. 2x - You CANNOT borrow money from your IRA.

Nothing to ignore by any means but that may not include proper allocation for reserves for capital expenditures into the future of each of the assets.  

I think that alot of their clients are military members (myself included) and these clients (not me in this case) bought a house for the sake of buying a house or poor planning on their part and when they move on to their next out of state assignment, they just pick any property manager and are happy as long as their mortgage is covered and don't care that much if their property isn't rented in 2 months, 4 months, etc and never planned for capital expenditures or home maintenance.

The plan with the refi is to pay back the investor(which is myself as I would purchase with a line of credit)There are no large capital expenditures (new paint, new water heater in March, new roof 2 years ago)If I had the option of a 30 year note I would choose that but I already have 4 mortgages with traditional financing and even with decent income and strong credit banks will now lend me any further traditional finance deals.The other bonus is the seller will rent the property from me while his house builds.

The only difference is that one has a brand new furnace and the other has a furnace that is 15 years old but works just fine.Generally when doing deal analysis it seems people will account for estimated rehab to make a unit rentable, and they will estimate an amount for monthly or yearly maintenance and capital expenditures either as a percentage of rent or some estimated dollar amount.

Example, my receipts and expenditures are all not as organised as I would like it to be and I am only now formulating a proper system so that my business can start automating itself eventually in future.My reason for wanting to invest in systems and softwares is because of the fact that businesses and entrepreneurs from Singapore will receive a substantial amount of government grant should they choose to invest in anything that can bring about a higher level of productivity or education.