Remember it’s also evil and greedy to make more than teachers and only fat cats have defined pensions and all inclusive medical care.

The O in NOI is short for operating, so it follows that cap rate should not include NON operating items such as capital expenditures, debt service.Cap rate is not meant to be inclusive of all expenses (i.e. even the large ones).

An apples-to-apples comparison is also tough from market-to-market because codes vary widely in different areas of the country as do licensing requirements and thus labor costs.In Austin a decent finish-out inclusive of ALL costs and not just sticks/bricks is generally around $90psf - $100psf for product on the order of 1500sf -1800sf.

I absolutely recommend RentRedi as it is one of the easier and more simple all-inclusive management softwares out there.

Whichever pm starts marketing their service with rates dependent on effort vs rental amount and charges an all inclusive fee instead of a fee on top of the handyman fee will be the next big winner in this business. 

To achieve what you want, you will need to print everything out for the contractor, inclusions, exclusions, etc.

So you were renting all-inclusive assuming one person would be showering and now there's 4?

I have been tracking ADR (all in), ADN (avg daily net inclusive of cleaning fee as I bump my cleaning fee up to cover "consumables"), and ANR (less cleaning fee), Occupancy and all the other "stuff" the industry thinks I should be tracking. 

Now the property still cash flows even with paying for the utilities, however, this is due to the rent price being indicative of "all-inclusive".

Look at some historical data but realize it's probably not all inclusive, use some of your own judgement (if, including vacancy, your expenses are less than 45%, you're probably missing something).Once you have NOI you can look at your debt servicing and figure out cash flow from there... that's the process...