Use that as your benchmark..So a $200,000 house will need a $7000 min down payment for FHA.

So the "Cash-flow" benchmark can be achieved, but in and of itself its a worthless matrix if not considering what is behind the cash-flow number.All that said, I would agree with @John Warren in that Bolingbrook is worth while looking into.

Is $500 a reasonable benchmark or is there a percentage of cost/value that I should be using?

While I realize each geographic market is vastly different in terms of acceptable cash on cash returns, I'm curious for what benchmarks or rules you have set for your business to ensure long term financial success.For example, I evaluating a property right now with 11.86% Cash on Cash and that includes 10% vacancy, 12% PM, 5% Cap Ex and 10% Repairs. 

It could work as there a number of associations that publish current bench mark costs available via the web.

Also, use industry standard expense benchmarks in model assumptions.Discount rate.

Google what the exact benchmarks are for achievement and keep doing those.

I need to replace the floor and paint the interior house (walls, trip, 2 doors) The contractor that I worked with him until now raised his prices dramatically and I would like to create a benchmark for me in order to make sure I'm not overpayingI like to ask you from your experience, how much should cost installation of the vinyl floor (materials and work) for 1 sqftAnd how much should cost regular interior paint: (walls, trip, 2 doors)  for 720sqft.

You want a legal way out even if you do end up giving up some if not all of your EMSEMD amount, inspection time frames, financing contingency, closing dates, point by down, current leases if any, current liens if any, repair or replace benchmarks, occupancies agreements, material items, closing agent, shared or unshared closing cost.    

Mexico’s central bank raised its benchmark rate to 10.5% a few days ago!