Everything from the electrical, plumbing, roof, interior and exterior was brand new.

I ALWAYS have separate pros inspect the roof, HVAC, structural (if something is seen that warrants it), sewer main (or, septic, including separate sewer scope for drainfield AND perk test), and water well (bacteria and pump flow, etc.), if not on public water. 

Hey All,I constructed a 34 unit apartment building which has a conventional flat torch down roof.

repairs will be minimal for awhile it has a new roof and new boiler plus everything else will be new, or gone over. 

My capex budget includes roof  year 25 life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span.

To follow up on what @Guifre Mora said, here are the main things I would look at since it is a 3 unit and a quick breakdown for analyzing it.IncomeRental income  -Vacancy/Loss to lease (depends on area but 10% of income would be a good general figured to go with)Other income (if applicable, might have coin washers/dryers since it is near a college)Total IncomeExpensesProperty Management Fees (10% of income)Repairs and Maintenance (10-15% of income)Real Estate Taxes (can find on county's tax assessor's website)CapEX/Reserves (Can vary greatly based on condition of the property, roofs, HVAC, etc. 

The pictures look nice, but if the roof is 25 years old and the HVAC is 20...That said, you'll probably be safe with 10% combined for repairs and CapEx for the first few years, then tick it up to 15%.

This we do mostly with larger items like say the roof need repair then we would ask them to knock off a few grand.

Hi Doug, I’m a newbie investor and I listen to Robin Thompson’s teaching CD’s, she is a rehab queen out of Ocala, FL she recommends independent contractors, electrical, plumbing, painter, roofing etc,  the GC can be contracted for Sheet rock, flooring , dry wall etc, better protection for the investor to ensure timely completion of work with cost over runs

My capex budget includes roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span.