I am considering investing with Castle Rock Capital Management located in the Tampa area. 

Second, when Capex is spent, it's generally spent as a Capital Expenditure (Capex) and is not a current expense item.

Because the way a good turnkey company makes money isn't by tacking on a premium, it's by capitalizing on economies of scale in the rehab process, having the networks to get distressed properties at great prices, and having their own wholesaling operations that scour the market for those opportunities to cut down on commission costs.

I am looking to get a good starting place for someone who has little to no experience or capital.

On some level you need someone to data enter but on the other you need someone who is knowledgeable about construction to help you make the allocations between capital repairs and expenses. 

My first goal is to get capital.

Also make sure you have the capital for direct mail because it's a marathon not a sprint.

Depending on the cost it may need to be capitalized and depreciated.

Perhaps account for 14% for PM as that is the national average after fees, lease ups etc.

most people are giving you the "clean up your credit" advice because its the most prevailing honest truth. no one is saying it is a show stopper but it is a significant barrier to entry unless you have significant capital in the bank. the greatest returns in RE come from the ability to leverage. in most cases, leverage is based on credit.