Other components of the total deal cost would be the purchase price, estimated rehab, and any closing costs associated with the hard money loan (points, pre-paid interest, insurance, inspection[s], survey, appraisal, etc.).

For example do I estimate 29 days of prepaid interest, or 4?

I seems like you could handle that through the title company.Maybe a pre-paid visa debit card?

So, you should figure another 2% or so for closing costs.You will also have pre-paids that you will have to pay at closing.

Well, let's say the house as appreciated a bit and Bill and Diane built a deck and fenced in the backyard, so the value has increased to $550,000.Jane nets $502,000 ($550,000 - $2000/month x 24 months), or about $27,000 more than if her agent had sold it 2 years earlier, plus her mortgage has been paid down.Bill and Diane have already paid $24,000 toward purchasing the house ($12,000 in pre-paid rent at the begnning + $500/month x 24 months) so they owe $526,000.

You can use your $10k for FHA 3% down, negotiate with seller to pay up to 6% of purchase price towards closing cost, prepaids & propery tax & ins escrow.

There is a quarterly adjustment to the prepaid utilities.  

And may even get some cash back from the old lender (prepaid tax and insurance in escrow) depending on the type of lender and timing of the Refi.  

Prior to the call have the reports send out to you - this can be achieved via virtually any property management software these days by selecting an existing report or creating a custom one and setting up a frequency of the report being sent to your email.The reports should include rent rolls, income statement, balance sheet, general ledger, accounts receivable (rents received and/or pre-paid), as well as monthly bank statements reconciled against your property management account.2) As for which ones are the most critical ones, it depends  when you have purchased the property and where you're at from a re-positioning stand point and how many units (percentage-wise have been turned around).

However, tenants at other properties may not have checking accounts or may only have pre-paid debit card accounts.