My question is if we are paying out cash flows month to month (hypothetical) and a large cost item comes up do we then need to go back to the investors for a capital call?

Cap Rates are opposite mindset of traditional investments:  Buy high, sell low!

I think I can broaden my search a little if I can figure out which items to focus less on. 

With traditional mortgage rates rising, I am usually of the opinion to get your debt in place before rates rise even more.

Typically a subcontractor will spell out excluded items on his proposal that he is expecting you to get.  

Most tenants respond favorably to this and we are able to resolve the matter amicably and quickly.For serious matters, when we mail by USPS First Class Mail, we pay extra to get a "Certificate of Mailing" ($1.45 by 2019 prices) to have proof we mailed the item (letter or legal notice) when we said we did.

This is what I did, called about 40 local banks and credit unions, found numerous who would do terms that no other traditional lenders I spoke with could or would do.  

As long as the numbers work, it will be to your benefit to secure as many units as possible with that cheap 30 year traditional financing while it's available to you.

Some of their other big items are Condo Fee/Amenity fee, which is basically $1500/mo. 

However, as I was going through the process they told me they wouldn't give me traditional financing on my property since it was investment property.