I am just starting to develop a real estate portfolio and I would appreciate your advice with reference to tracking business expenditures.  

Asking price: 215k Purchasing price: 205k Appraisal value:228k Gross monthly rent: $3,260.00 Financing: conventional loan 25% down payment Vacancy 10% / Repair and maintenance:10% / Property management 10% /Capital expenditure 3% Cash in Cash Return is 10% Keep the number conservative: even though we are currently managing the property ourselves and it’s fully rented.

It can be a significant expense in upstate New York winters -Landscaping including mowing and snow removal-capital expenditures - if you plan to buy and hold eventually you'll need to replace the roof, water heater, etc. best to put aside a little every month -property management - if you self manage this will just be part of your cash flow, but as you grow your business or if you hate managing you may need to outsource.

What assumptions do you guys use when analyzing deals when it comes to capital expenditures?

And it gets worse you have not accounted any money for capex(major expenditures) my minimum is $100 per month.

The updates would be more capital expenditures than cosmetic, ac, water heater, replacing inefficient 1970s aluminum windows etc.

I still include capital expenditures, vacancy rates, and all of the other expenses in each analysis of mine.

Even if you pay all cash and don't have a mortgage, you'll still have to pay taxes, insurance, maintenance, capital expenditures, vacancy, non-paying renters, etc.

Your cash flow projections take into account taxes, insurance, capital expenditures etc...?

This would give you a good idea on other possible expenditures.