I do understand that if I were to resell when the tenants are in place I would need to transfer the money, but I have some small maintenance items I want to address this month and instead of borrowing the money from my bank to make repairs can I use the last month rent money.  

I told him I will pay to move and a storage unit for any items he wants to keep from the vacant two year house and pay all fees he has. how do I pull him on the boat?

How do you estimate the actual (or close to it) cost of these items?

It will be a sacrifice in one way or another, just have to decide if this is really for you and if you are willing to sacrifice time, luxury items, or sleep to be successful. 

Or holding back huge amounts for punch list items, like holding back $1k for a crooked light switch plate because that means the electrical "technically" isn't complete.

I am not an accountant or CPA but my understanding is, if it is available for rent then those items are deductible.

Do you have a list of the items you'll want to repair together for your SOW?

Given that HVAC, electric, plumbing etc are major items how would I go about estimating these without first of all utiliIes not being on?

Not even 10% being that a lot of your big expense items should be addressed in the rehab.

He said hd/lowes can sometimes beat him on the carpet + install initial price, but where they get you is the "Specialty Items" like tack strips and transitions that aren't included and are grossly overpriced.