Admittedly, pricing will often account for any major items, and I don't believe this is true in Sandy Springs, but there are some areas that an interstate cuts off a small part of the neighborhood, and so labeling the neighborhood as "good" may be true for 90% of that neighborhood, but if you are in the 10% that is on the "wrong side" of the interstate, it can be a totally different market.

And then the second item is - if you do take out more money, where does that leave you from a cashflow standpoint.   

Prepaid items are comprised of property taxes and insurance and prepaid interest.Property taxes and homeowners’ insurance will depend on whether or not you have an escrow account, when you are closing, and when those items are due.

After all, this is real estate, and it would be unrealistic to expect that things like tenant issues or other issues do not ever occur, even in TK or new construction investing.Some notable items to understand:1) This investor independently chose to move forward with this Akron property on his own.

They also sell items at farmers markets.

Alternatively, are there some ballpark estimates for each expense item (e.g., 8% for vacancy, 3% for capex, etc.) that can be factored in as realistic or worst case scenarios when analyzing the deal?

Now for the house you are leaving behind…I like to have this one freshly painted, and take action on any maintenance items.  

Had my inspections done a month or two ago and they checked about a dozen items per property that had to be corrected and told us the properties were deemed "uninhabitable" until then and no one could stay in them.

@Francisco PineiroYou could call a few home inspectors in the market you are investing in and see if they do draw inspections so you know the items are correctly done before sending funds

Be wary of front loading on the itemization/draws in the contract.