My model is to buy properties with cash, renovate, lease and refinance. 

My lender says that I should keep $5k on hand for other closing items...second appraisals and such.

-I have started putting those capx items into my purchase criteria. 

His investment quadrant model is useful. 

I have a lot of itemized deductions so I don't want to start all over this year with my CPA.  

We have decades of experience on our team for each of these items and have a team that has lived in Central Texas for much of their lives.  

She will trust what she writes more than what you put down on paper.Once you have arrived do at the framework of a deal, list out a simple list of terms in about 6-8 line items then a list of documents that will be required and tasks or conditions that are to be met be each party. 

Also I'm trying to understand if the buy and hold model for investors uses a different formula than if I was to flip the houses. such as if I buy at 300,000 and the net income is 30,000 a year, does the 10% a year against the purchase price solidify the deal?

The whole beauty of real estate investing is that you make your kitchen table dreams a reality with simple business models (buy and rent for more than expenses; or buy and improve and sell, etc) not red tape, endless processes, and the complexity and frustrations you face (or try to escape) in your day job...Like Dawn says with the first baby, the perfect can be the enemy of the good.. probably some investors get too caught up with the analysis to try to be prefect when they could get a good deal done and manage it well enough (whereas the perfect deal person is still just analyzing and daydreaming).  

Make sure you have a clearly defined business model and know what numbers you need to support it.