Here's a brief taste of the items to think about-Will the site require a zoning change, special exception or variance?

If our detailed list of reno items tallies about $25k, (we are offering $185k less credits of $25k for net buy of $160k) should we provide line item values $ (kitchen vs bath vs electrical) for Probate court submission?

The vast majority of tenants harbour a hidden resentment of landlords for that reason.When buying cars or other high price ticket items I ware street cloths, never dress up, I hate walking on to a lot looking like I don't have a clue about what I am buying.

The companies sent out want to charge a ridiculous amount for items not covered. 

What all needs to be accounts for besides the items you listed (I would manage the property myself), and how are the percentages determined?

CapEx includes items that happen irregularly and are considered "one-time" items (even though they may occur every few years) like replacing a roof or a furnace.In short, leave the CapEx out of the NOI equation.After all that, let me just point out that if you interest is in knowing the cash left over after everything has been paid, then of course you would subtract out the CapEx as well as your mortgage payments (which are also below-the-NOI-line since they are a financing expenditure, not an operations expenditure).  

Plenty of time later down the road to replace necessary items. 

And don't forgot once you are out of warranty the repair costs can get out of control, not to mention the maintenance items are expensive (compare prices of heavy duty rated tired to standard truck tires for example).

You don't deduct the $100 cash cleaning item and eat it, or you pay $150 for same cleaning and 1099 to deduct it.

.- I don't see you listing many items that are usually separated on expenses; Utilities, Landscaping, Pest control, trash, etc, etc.