So you have to look at the expected repairs and capital expenditures to get a true sense of what the numbers will look like.

Also, in my experience 5% is not enough for capital expenditures.

Here are my main concerns/questions:1) Most deals I can find are projected to cash flow less than $100 (assuming 30 year fixed, 5% vacancy, 10% maintenance, 5% capital expenditures, 10% management fees, HELOC interest).  

Improving it further with cashflow won't be easy on a multi of that size as your cashflow won't be much per month... and that's assuming you don't have an unexpected big expenditure in year 1 or 2.... which can wipe out all of your projected cashflow early on.

But, when I buy a property for cash I keep my numbers simple and I see it like thisPurchase Price + rehab costs + operating costs = InvestmentI don't consider myself profitable on a property until the rents received column is greater than the total expenditures column on that property.I may be looking at it wrong, and they're may be better ways of looking at it or tracking each property.  

Unless the economy is going bonkers, increased infrastructure expenditures will result in increasing the national debt. 

Ideally you would have cash flow because you purchased it correctly, but for demonstration purposes lets assume the rent only covers taxes/mortgage, capital expenditures, property management, vacancies, etc with $0 left for cash flow (I know there's closing costs too, but lets assume its seller financed).

Until you have made it minimize your expenditures to things that are a must have.  

I think some expenses might be missing: rental license, rental inspection, trash, landlord paid utilities (some municipalities won't allow certain utilities to be in name of a tenant), vacancy factor, reserves for capital expenditures. 

Generally, we include repairs and maintenance and also anything set aside for cap-ex (capital expenditures) in our expenses which then effects the NOI and therefore the Cap Rate.