From that saved money monthly, I allocate: mtg ins taxes cap ex savings business profit, etc. after all of those are satisfied, I'll take the remainder to a rounded amount.

What is a good way to determine how much I should allocate from monthly income to the repair fund and capX fund in terms of a good percentage?

. $12000 gross rentX 70%= $8400$8400-$3828 taxes-$900 ins---------------$3672 for debt incomeYour amount allocated for debt is around $300/month.So you would finance roughly $55,000.

Hi Lane, I know your moving on from this deal, but I did not read anyone mention the most important key parts in a commercial residential allocation so I am gonna throw a few factors on how I do it.

You've allocated $0 for maintenance because they were just renovated?

I believe you have possibly underestimated your expenses on you current investment property and should raise them to at least 40% to be more accurate.In addition, unless I am wrong you have not allocated any value to the equity you have in the property.

This allows you to claim bigger amounts of depreciation in the earlier years of ownership by allocating different assets within the property to shorter depreciation lives (5,7,15 year life) as opposed to waiting 27.5/39.

You have 4 years of school left, figure you allocate $30k a year to paying down the debt, that is another 8 years, and then at least 10 more years in the field. 

Once a year I go through all the recurring expenses and update if any have increased to make sure the correct amounts are allocated for those items.  

If the stars align for you , you can take the 1/3rd primary allocation as cash tax free.