Also, I do not see an expense item for property insurance.

Hi Brian,Assuming this is a life insurance/agency loan, the loan documents should detail any loan assumption fees.

I need paint, flooring, and maybe a roof (depending on if the insurance company will let it fly).

He’s asking about all the other expenses that go along with being a landlord.Vacancy, insurance, property taxes, repairs, management...

10 roofs 10 tax bills 10 insurance policies 10 wet basements 10 closing costs 10 clogged gutters 10 city code inspectors 10 yards to mow .. the list is endless .

If you buy a 4-Plex and decided  to pull a permit for one Unit to start your renovation project and not the other 3 can the building inspector (plumbing, electric) mandate that you show the other 3 units during the first unit inspection ? 

I found insurance for the type of renting.   

Do not forget any ongoing expenses you'll have like possibly insurance, property taxes, or anything else?

On average, if you have pretty responsible tenants, you may not even have to do plumbing works for months.

@Vincent PlantIt sounds like your cash flow is slightly less: consider setting aside 10% of the rent for repairs (paint, carpet, plumbing, etc.) and 10% for capital improvements (new roof, new HVAC).Consider paying any debt with high-interest rates (anything greater than your cash on cash return).Save the balance for your next deal.Good luck,