How confident are you with your own project numbers, including expensive surprises? 

Would love some ideas and a good software to help establish cost basis and keep track of expenses.

I would suggest looking in less competitive and expensive areas.Those are 3 of the hottest markets here in South Florida.I've been looking in Boca and Delray as well so I know first hand.

My visits in San Francisco and Washington DC last year have definitley opened my eyes to what expensive real estate can look like, even smaller homes that are far from luxurious.

I have seen cash flow projections that do not include any cap expense estimates with various rationale. 

Here is a little more background info for everyone to double check my initial repair and expense numbers that I used so I can be more knowledgeable going forward The house is a 3/1 built in 1955 with 1100 sqft and it would be in a C neighborhood.

It's likely to cost you much more than a standard eviction and will "reward" the tenant for their bad behavior.This is an example of how hiring an amateur can be far, far more expensive than hiring a professional.

Are you looking at the per door expense?

Even so, assuming an additional $5k in expenses, you would still be creating $10k AND have a cash flowing money making machine. 

What kind of things do you look for and how to you figure what the possible rent/cash flow post expenses are going to be.