Large CapEx items: $152.77 (10.1% of gross rent)Budget to replace the roof in about 8 years for around $8,000: $83.33Budget to replace the 2 new furnaces in 15 years for $8,000 including labor:  $44.44Budget to replace 2 new water heaters in 10 years for $3,000 including labor: $25If my math is correct, then that puts my total estimated expediences at $1,254.61 leaving only $245.39 total cash flow (or 122.70 / unit)...

You're still having active real estate conversations with people without doing the grunt work of being a showing agent. 

Typically, in the downturn, next to stall will be condos in the non-Boston communities that just went through huge conversion crazes (Salem MA, Lowell, MA, Lynnfield, MA, etc)... but it's town by town.  

So if it gives you the cash flow when accounting for those additional items that you feel comfortable with I say go for it.

Could you send me  a product or item number or direct me where I can buy those tiles?

My question is if we are paying out cash flows month to month (hypothetical) and a large cost item comes up do we then need to go back to the investors for a capital call?

If it is something that they are interested, they will more than likely help you and continue the conversation.

There was a total of 4 units after the conversion.

I think I can broaden my search a little if I can figure out which items to focus less on. 

I would consider having an initial conversation with PMs in the area as a potential client of theirs and to "pick their brains".