You must keep in mind that with each class you descend, you must increase all contingency accounts and operational expenditures because reality is your gonna need it. 

.- I did not include a separate row for CapEx (Capital Expenditures) and I realize this may be a big mistake!

I think as a buy and hold investment it makes sense but in the end with all the repairs and capital expenditures I just don't understand why it'd be a good investment.

These are old buildings, there could be some high capital expenditures down the road. 

Also budget 5% for repairs and 5% for capital expenditures.

When my partner closed on the property, we found out that the seller lied about what he was getting for rent, expected life on capital expenditures and I didn't get my wholesale fee until mid March because of the way the contract was set up. 

I’d also budget an extra $100-150/mo for capital expenditures fund.Replacement of furnishings - I’d add a budget of $50/mo to replace things that get used up (linens, broken furnishing, etc)Occupancy taxes - I’d check whether Airbnb automatically collects and remits occupancy taxes.

Those alone put you at $1,040 - $1,140 per month before you add in repairs and maintenance, vacancy and capital expenditures.

Simply divide the capital expenditure by service life.

I currently own a property that I rent rooms With a cash flow of $1200 after expenses and capital expenditures each month.