Misc extra rehab items that you didn't think about.

I think that most insurance can feel like a waste of money but it is usually meant for people to correct them from a major loss.  

A lot of people were trying to convince me to back out and take a loss on the deal before things got out of control - especially my dad.

People go in asking for and expecting $100 for an item, but if they're are desperate, they leave with $10 or $20... 

It will also help in planning and budgeting and you can get bigger discount by buying the most common items in bulk. 

Some CPAs push back when asked to put one-time repairs on line 19 "See Statement X" instead of line 14 where it is un-itemized.

If I am interested in acquiring it, I do my "legwork" and itemize and adjust the numbers as I work through a specific property to see if it makes sense for me.  

It's exactly that.When I see those stunningly low rates, invariably the underwriter can't tell me how many ways Fannie Mae calculates rental income and when each way is applicable, she can't tell me about net loss carryover, if I'm lucky she knows that you add back depreciation, she can't tell me about how to calculate Patronage Income for all the Berkeley-ites that work at worker-owned socialist co-ops, she can't tell me how much you add back for each business mile driven showing up on page 2 of Schedule C of tax returns, she doesn't know how Fannie and Freddie vary for S Corps, has no idea how transfer taxes work in the Bay Area because she is in Narnia, can't tell me anything about the California Association of Realtors Residential Purchase Agreement, et cetera. 

It DOES include taxes and insurance.Your analysis seems to be missing some potential big ticket items including but not limited to:InsuranceHOA FeesRepairs ($1000 per year seems low, that's only $83 per month)Landscaping/Grounds MaintenanceProperty Management (include it even if you will self manage for the time)

So I think the only item I need in my lease is a clause that specifies that a tenant may be removed if all tenants agree and remaining tenants are able to ....Anyone have a clause example or how they would stipulate this in their lease?