I'm hoping he listens to me as well and gets most of his stuff out of items tied to the stock market now before the election - I see a correction ahead and it's probably not good for him to have his money allocated in a risky way at this point in their lives.If anyone has a suggestion on an IRA custodian in the fine state of KS or somewhere close - Oklahoma City, Wichita or in the Kansas City area it would be greatly appreciated.  

For instance, when I change the Repairs & Capex to 5% ($313/mo combined) from 8% per Thomas' suggestion, the property now cash flows $114/door, good for a 12.08% cash on cash return in year 1.I'm starting to think the best way for me to estimate Capex is to allocate a higher amount the first year, and reduce that amount as time goes on. 

Some will say pay it all off, but then the argument is that you'll deplete all cash that would essentially be allocated for investment purposes.

I'm compiling some research for a report, blog post, and possibly a book.If you suddenly had an extra $250,000 in cash, how would you use/allocate it in your real estate investing business?

Having a $300 cash flow criteria in certain scenarios could be misleading. at the end of the day you want to make sure capital is allocated and earning as much as possible.

Make sure to allocate some expense to vacancy lost, management, maintenance, tax, and insurance.

For any financing, you still underwrite the tenant no differently than if it was a 3rd party tenant.Talk to your CPA about allocating capital costs between LL/tenant, whoever has a higher rate will probably absorb more of the costs.

I knew where the "budget" was best allocated.

.= appreciate your work more...if let's say their voucher is for $1,500, please consider this also includes utilities allocation so your actual total pay may be $1,300. bonus points for a lot of insulation in the walls and attic+-crawl space. my local HA has some discounts available with local vendors for energy audit and property insulation/green stuff. you harden your property by going to nice and  abuse-resistent: check your local competition and go one level above. kitchens and bathroom sells the property. also go directly to the heart of the head/ lady of the house!!!

You've allocated nothing for management expenses, so this number may not be too far off the mark.