i will only buy if i have some way of keeping my overall expenditure low - for example, BRRRR. 

I refer to expenditures that return less than they cost as value subtract.How bad is the COC?

You’ve developed a moderately fast wealth accumulation strategy that’s relatively low risk, enabling you to ride out down cycles, negative cash flows, unexpected necessary expenditures, etc.  

This is neighborhood dependent though and also capital expenditure free.

I've seen investors allocate 5-10% for capital expenditures (capex) and vacancy, but you won't have a clear understanding until you've owned the property for a few years and established a track record.

Income Statement shows a company's income and expenditures over a period of time.Balance Sheet is like the Head/Brain of the company and Income Statement is like the Body. 

Always account for the costs of upcoming capital expenditure items in your purchase price.

Always account for the costs of upcoming capital expenditure items in your purchase price.

Since this would be my first property, I'm assigned 10% for each repairs & maintenance, vacancy and capital expenditures (just in case). 

The 1031 exchange would allow you to indefinitely defer all of the capital gains taxes and use it to purchase multiple newer properties with lower capital expenditures, in a better market.