The following is a partial list of things that wear out or become outdated over time and eventually need to be replaced for every property:-Roof-Siding-Hot water tank-Furnace-A/C system-Electrical system-Plumbing system (inside)-Sewer service line-Water service line-Any concrete exposed to the elements (sidewalks/porches)-WindowsIf you calculate the cost of replacing each of those items and divide them by the expected useful life, then sum that up, you'll come up with a monthly amount that you can expect to spend on capex over the long term.

My first reaction is to not leave any money on the table.  

Since things like payoffs and charges often change everyday (taxes, interest and more) that are used to calculate fees charged (and monies that may need to be brought to the table or put into the loan itself) The gov't wants consumers to have a better understanding of what they are being charged. 

There was no water damage from the outside elements.This is a short sale home, asking 229,000.

I just didn't want to get into any hot water at closing.

he said insurance is roughly 700 each yearly. he said tenants pay all expenses and pay extra for their electricity and water and stuff. what else am i missing?

There was no water damage from the outside elements.This is a short sale home, asking 229,000.

You might get at least an idea on how much life the roof has left in it, and how old your water heater is, HVAc, heating system, etc and figure out a number to set aside for replacing those someday. 

I think lease options there is no calculator1st do a 30 Yr amortization table on the existing mortgage Are you trying to do an assignment or a sandwich?

There was no water damage from the outside elements.This is a short sale home, asking 229,000.