Some people even write in estimated cap ex in the calculation.  

I have a spreadsheet of the rough timeline for when roofs and cap ex items will need to be done.

They know the tenant base, median rents of different areas, how much to increase rent each year, ranges of repair costs (ex: tenant calls and says AC isn't working, no hot water, faucet is leaking, the HVAC system goes out).

The ex-husband does meet the minimum criteria for the rental application, however the mother does not.

Rougher parts of town have increased maintenance/cap ex, vacancy, rent delinquencies and defaults, and level of effort to manage.  

Ex.

However, there are numerous ways to CREATE investments that have 15% or more cash flow AFTER repairs and allowance for cap ex.  

Likely tied to supply/demand issues, aging facility with high cap ex, and operating costs increases.

Is this 3-family free of cap ex for the next five years?

At this point, we bring our cap ex team, our AC head, scope the lines ourselves.