As far as prepaid rent (first and last) and security deposit that's one third of a month's total rent.

I'd be requiring a year pre-paid (non-refundable) of the insurance, one year term leases, non-renewable without another year of insurance.... eventually the tenant gets eaten up in fees and has no security deposit coming back at the end.

Do not adjust or account for prepaid security deposit and last month's rent. 

The borrower has a conventional loan and there will be an excess in seller contributions because it cannot go towards pre-paids or buying down the rate.

The only downside to this is you'll have a full month of pre-paid interest due at closing, but you're able to count that in your 6% seller assist at closing and have the seller pay that.

A non-exhaustive list of closing costs includes loan application fees, points, prepaid homeowners' insurance, appraisal fees, inspection fees, transfer taxes, escrow fees, attorney fees, recording fees, prepaid interest, prepaid private mortgage insurance, title insurance, and title search costs.Hope that helps.

I am under contract on a turnkey 4bed/4bath and I will pay $4600 at closing for prepaid PMI. 

Verizon offered an unlimited prepaid plan this time last year for $45 a month and a swapped all to that plan and have one at&t backup I picked up 2 yrs ago on a special ($23 month) just in case we have an issue at any of the cabins.

And closing costs of $4,200 work out to 1.2%, which seems low for attorney's fees, appraisal, inspection fees, pre-paid homeowner's insurance, origination fees, pest inspection, pre-paid property tax, recording fees, survey fees, title fees, transfer taxes, etc.Not sure how old the property is, but CapEx + Maintenance of 14% feels optimistic to me. 

Second be prepaid to drop in on projects to be sure that work is being done.