They have just moved out and the house is being cleaned for the next round of college kids.

It has been a whirlwind since then and I love having the opportunity to share what I've learned through my experiences with the next round of soon-to-be millionaire real estate investors. 

I know for some of our properties we can get away with 5% capex but others we budget 12% because they’re super old.

Capital Expenses: It would be wise to save at least  5 percent off monthly rent for big ticket items, (Roof, heating, AC, etc)So above all the expenses you described, you need to add in property taxes in as well. 

$100 is a round number and kind of low.What about internet/cable?

I rounded all my figures up to be conservative.After all was said and done, some of the figures were close and the others were close enough. 

I've unlocked some more specifics (I'll round off numbers):Principle: 103kEstimate out of pocket to bring current (HOA + Arrears) and attorney and repairs/flooring: 25kProperty value in this area - easily worth 150K with comps, but could be as high as 165K+Rental cashflow conservatively at $210Numbers on flip seem to put at a loss with realtor fees, closing fees again and holding costs for a few months.It doesn't make sense to me - all the ways I've flipped and evaluated numbers and what it would take for me to make this happen vs. the return and risk (although, I have the pieces lined up to move forward today if I'm ready to say "go").Appreciate your input.

I don’t think a $40 parking ticket on a $0.25 parking meter is fair, but I’m sure any judge would not side with me!

While I agree with Chris as to the 2-3 months as a rule of thumb, if you can show where the funds flow from, i.e. one of the members of an entity made a loan to the entity per an operating agreement, or a sole member invested personal funds, or if you get a gift letter from a family member or friend, or you move money from another affiliated entity's account to a newly formed entity account, those things you can most likely get away with.

College is a great way to develop networking skills, both with other students and with their parents.College also is an opportunity to get a well-rounded education.