A HOA can be very risky so ask about them before you buy (from future neighbors) another one of thattype of unit and know their requirements or possible special assessments for capital expenditures and know if that property is close to making one. 

add “Exhibit A” with Contingencies.Within 10 Days of execution, Seller shell provide Buyer with any document related to the property, which sell include but not limited to:1.Leases, amendments, modifications2.Current or future lease concessions3.Security deposits4.Current rent rolls5.Current rent arrears6.All maintenance, utility, management, service, and other contracts.7.Financial statements for the past three years and a year-to-date financial statement.8.A description of all capital expenditures performed in the last 3 years.

I know that water is available at the road if I wanted / needed to connect, no sewer available, not sure about gas.I created a cap expenditure spreadsheet to try and accurately evaluate the costs, but Im not sure about it.

Doing a high-quality maintenance job by myself for a fraction of what I know I would have to pay a local tradesman (whom I am also sure would do an inferior job, sometimes an unsound job, as a matter of course to maximize his profit and minimize his time expenditure) also gives me immense satisfaction.Finally, I live in a city where outdated yet sound properties in passable locations can be had for very little money, fixed up for minimal cash outlay (as long as you do it yourself), and rented for competitive rates. 

I have seen this a number of times, first as an employee in a bank where my job was to pull credit on applicants...Do NOT buy a truck or car, furniture or any other large expenditure until the loan closes.  

ie do you have to pay any extra for maintenance/capital expenditures?

I am trying to first see if the deal numbers work out, so what is the best way to calculate capital expenditures?

-Cap ex ( capital expenditures, on and old brick building even with new windows and a roof I’m guessing there is significant maintenance).

. $200 is a bit low in my opinion and leaves very little room for profit if you run into any unexpected vacancy's, evictions, or capital expenditures.  

Address: 8177 Garfield Ave Hunington Beach, CA 92646IF i were to buy this for 2,300,000Cap rate: 4.56Bed/ Bath: 1/1 x 8 UnitsRent: 2000 x 8 Expenses: Property Management Fees - 1000Repairs/ Maintenance - 319.14Real Estate Taxes - 2875Rental Property Insurance - 766.67Vacancy Costs - 1333.33Capital Expenditures - 960 Total monthly expenses: 7254.44Financing: Down Payment: 20% - 460000Loan Amount: 1,840000 @ 5% interest rateClosing costs: 69,000PI/Mortgage: 9877.52Cash invested: 529000Total Monthly Cashflow: -1311 = 16,000-7254-9877.52ROI: -2.57%The point of this excersise is for me to recognize bad deals.