What am I missing for variable expenses?

There's plenty of intelligence in the world, but the courage to do things differently is in short supply." ~ Marilyn vos Savant 

Go talk to your builder's supply company.  

The landlord is now required to supply birthday cakes (not vanilla) for the tenants.  

The lower the inventory %, the demand outpaces supply and apprecation will take place.

This is also the "rate" you get while you are saving for your down payment.Mortgage requires 25% down, 20 year note, 8.47% interest (avg for last 30 years)Goal is $100/door cash flow to start so CAP rate is 10.2%S&P 500 Compounded Annual Growth Rate is 11.4% (avg for last 30 years) and you don't pay any fees.You get a 75% match of your savings in the 401(k)All rental cash flow is plowed back into the business (just like reinvesting the dividends/gains received in the 401(k)) to make this an apples-to-apples comparison.After 10 years:The 401(k) would supply you with $843 of monthly incomeRentals only give you $371 of monthly incomeAfter 20 years:The 401(k) would supply you with $3,886 of monthly incomeRentals supply you with $4,209 of monthly incomeAfter 30 years:The 401(k) would supply you with $13,963 of monthly incomeRentals supply you with $34,426 of monthly incomeWhat's really cool is the Net Worth of the investor.

Out of the 5 variables tested, they determined that shadow inventory is the greatest single indicator of whether a market's prices will appreciate or depreciate.

An extreme lack of qualified buyers (and those that were qualified expected EVERYTHING to be perfect) combined with a large inventory of flip-level homes lead to a severe imbalance in supply and demand.

The seller has supplied me with a rental agreement but refuses to show me proof of cash flow i.e. bank statements or copies of deposited rent checks.Is this a red flag not to proceed?

Assuming I supply brick.