A small house just came on the market that sold 2 MONTHS ago for 120k less, they now put it back on the market after what looks like a coat of paint, no major repairs and are asking double the price per square foot (or more) over anything comparable.

I usually run an 8% assumption on vacancy.Capex and Repairs at 7% are probably ok, although if you are putting $35k into repairs upfront you may have lower Capex and repairs on the unit for the first 5+ years.  

On top of that the funds needed for the repairs and operational expense will not be insignificant.

Though there’s different opinions on what percentage of your monthly income to estimate for repairs, vacancy and turnover generally the numbers are 30-50% of your monthly rent goes to expenses.

My partner and I are looking at one in Houston with the expenses and deductions totaling ~45% of the gross potential rent of the property:That includes 10% for vacancy allowance15% for planned and unplanned maintenance (lawn, CAM, repair allowance)7% for property management12% for Taxes and InsurancePosted deals often excluded expenses, so I want to ask the BP community for wisdom.Questions: To the experienced eye out there, how does those expense %’s look?

RCV = Replacement Cost Value, which means "IF" the repairs are completed in 6 months or less you get another check to cover the depreciation.  

Usually The parts to repair them cost more than a new unit making it cost prohibitive to even mess with.

I have a local team in place for finance, repair/rehab labor, and quality systems in place to manage things.  

ARV should be around 230,000 or more if we can put about $50k in repairs/reno into it.

A bad realtor won't even pick up a bar tab let alone a phone.