You should be ok with "future investments and reserves."

Roof you have more time on, but hold long enough and you will be replacing that again, or giving a credit at sale.From there, I look at my return on equity: annual cash flow, including reserves, divided by current equity.  

I prefer keeping tenants on a month-to-month for at least 3-6 months to confirm they are good before I decide to keep them.

Once you purchased the property, you should all put an equal amount of reserves into a shared bank account that is separate from your own.  

Assuming because you haven’t been raising rents, you have had less reserves to continue maintenance on the property, it’ll become more of a value-add product and the buyer will need to raise the rents significantly to make their numbers work.

If your finding properties that need light rehab and have nice returns, maybe take a shot on it.Remember, if you are going to finance a first flip you can expect to have 20% down + closing costs + money to start the rehab + reserves.

I have tried researching here and elsewhere to get confirmation of this but cant find anything that says there is a cap.   

Whatever you do, maintain separate bank accounts for the business and set aside reserves for repairs and updates.

. / VAC. as recommended in the BP calculator.Long term buy / hold strategyAfter Refinance Analysis: (includes CAPEX/MAINT/VAC)NOI = $29,592   COC = 15.9%  Cap Rate = 8.03%  Gross Rent = $3600 month    Expenses = $2710  (includes reserves)Monthly Net Cash Flow = $889   5-YR Annualized = 22.53%BP Community Questions:Is there a more appropriate analysis tool I can use for long term buy / hold new construction?

Car, Home, and student loan debt will typically have a lower interest rate than you can make from reinvesting and so you should invest instead of paying off these debts if you have adequate reserves.