Would it be fair to allocate these items as capital expenditures?  

If the property requires a lot of capital expenditures, then yes the bank is going to want to see that the money is there to execute such a plan.Also, on a larger building the bank will want to see a track record from you.

I think it would be a foolish capital expenditure to make here.  

Are there any big ticket capital expenditures coming up?

In general if something doesn't meet the 1% rule I am not even going to look at it because to truly cash flow after repairs and capital expenditures I need to be hitting something more like the 1.5% rule.

You both expect that the property will need about $20k in capital expenditures in the next two years or so.

When buying MF (residential and commercial), how do you estimate utility costs, capital expenditures, etc. before you even know the market prices?

Some common expenses are 10% maintenance, capital expenditures, property management, and vacancy.

Austin has more laws than the state laws require.Question all expenditures. 

Decent building and a lot of the big capital expenditures (roof, boiler, windows...) have been recently upgraded.