All-in costs are Purchase price, Rehab costs, Closing and Holding costs.You incorrectly show a Hard Money loan for $100,000.  

Nick Belsky and Johnathan Orr,I have sent you both what I believe is a PM or perhaps it was an invite to connect -- forgive me, if I have done this incorrectly, as I am still learning the BP interface.

I honestly have little to add to this discussion because I'm not from Illinois but your assumption that they had head just because it is a gas furnace is incorrect.

Your definition of a Cap Rate is incorrect.

That is a risk you take on when deciding that you want to rent someone else's home as opposed to buying your own.It is incorrect that you have to be cold to operate a business successfully.

My point is that it is an incorrect business principal to call an "acquisition expense", like a mortgage on an investment property, an "operating expense". 

And you do not need to be a rookie to get screwed over by incorrect estimating. 

Second picture is after the incorrect drywall was taken back out, the window was correctly framed, and the correct backer-board (wonderboard) was installed.

The point is each one has their own quirks and a good broker will be able to let you know which lender will work for you. 

Quote from @Joe Coleman:Joe this  is incorrect information.