Actual definition of "cash flow"

[Kyle Fitzpatrick]

I see a lot of people defining cash flow in various forms. To me, it is the cash left over after covering all expenses, even the non monthly ones like capital expenditures. I see so many people saying that their rent is $1,000 a month and their PITI is $600 and property management is $75 so their cash flow is $325. That is incorrect right? Whenever I analyze deals I tend to include at least $150 a month in capital expenditures and use conservative property management and vacancy numbers. I just wanted to see how others felt about this topic.