As you are building a place, an expenditure is attributable to the enlargement of the building or the internal structural framework of the building is not as Qualified improvement Property. 

and you're correct, I didnt include PM costs:  I'll be watching more BP webinars/videos to learn how to properly estimate the future assumptions, capital expenditures, repairs/maintenance & vacancy.....I'm a little nervous about the capital expenditures.Variable Landlord-Paid Expenses Vacancy (%) ($107.40)Repairs and Maintenance (%) ($107.40)Capital Expenditures (%) ($107.40)Management Fees (%) ($0.00)Future Assumptions Annual Income Growth (%)  2 Annual PV Growth (%)      2 Annual Expenses Growth (%)   2 Sales Expenses (%)        7Fixed Landlord-Paid Expenses Total Monthly Mortgage (P&I) Expense:$805.54Total Monthly Fixed Expense:$396.00Electricity$ 0...tenant responsibilityWater & Sewer$ 0....tenant responsibilityPMI $  65.00Garbage$0.....tenant responsibilityHOAs$  N/AMonthly Insurance$   70.00Property Taxes $ 261.00Other Monthly Expenses$ Best Regards,Heather

It ranges from netting $5k/yr. or so to breaking even, depending on expenditures.  

I use a 10% as a starting point for repairs and don't use capitol expenditures when determining market value.

@Alan Dunlap, that is after Vacancy, capital expenditures, maintenance, Property Management, and debt service.

Well that's great that your able to cut your fuel expenditures but living in a rural area where you're in a service industry driving to every job.

I am able to evaluate the overall condition of a property as well as accurately budget for repairs and capital expenditures. 

Capex is capital expenses (the larger expenditures that extend the life of the asset, lIke a new roof, not just routine repairs/maintenance) (you should factor those in too).

I too spend about $10k-15K per property for furnishings and since you are now receiving bookings you can rest easy that "the money will come" and this upfront expenditure will be a distant memory. 

The HOA can vote to charge every owner an assessment should a budget shortfall or unexpected expenditure (never cheap - roof, plumbing, etc).