Number 2 is putting one-time capital expenditures on line 14 "repairs" rather than line 18.

Estimate what expenses and cap expenditures as there will be some.  

Its the nature of the expenditure and the reason that its being incurred which determines if and how an item is deductible as an expense for tax purposes.

Would be trying to rent for $1650 (current estimate around $1695) per month.My goal is to eventually build wealth through rentals but I do need to increase my capital for other expenditures.

If you see expenditures I'm missing, or seem unrealistic let me know!

I get great cash-on-cash returns this way, but it involves higher capital expenditures up front and labor (since I do a lot of the renovations myself) to realize these gains.Feel free to PM me with any other questions.  

Some items can be depreciated 100% in the year of expenditure, some have specific deduction schedules that will have to be followed.  

The area I’m focused on is Southeast Texas, where I know the market, rents are strong and rising, housing supply is limited and there is major industrial capital expenditure committed to the area over the next 10 years.I'm an experienced investor, having built my portfolio almost entirely while abroad and avoiding turnkey companies.  

Consume less than 2000 calories on 300 days.

You can get two full days of calories and admire the view of the Lowe’s parking lot!