I am estimating that there is still about $5500 worth of work to complete the project plus the dishwasher, refrigerator and some bathroom items (that I have already paid for).The gentleman and I still have a relationship and he is paying for a guy to come work when he can afford it (telling me he is building mobile homes for $12/hr during the day and managing the night shift at McDonald's to cover bills and my work).

Only attorneys could follow that conversation!

On these deals, speed is critical, have the conversation with your lender and get that pre-approval letter ASAP, so your offer can go in immediately!!!

However, in my opinion it's far more about your integrity and your character as a person in which materialistic items won't help in that aspect.

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?