Am I estimating CapEx and repairs too high?
When evaluating deals for those 80k-100k SFRs in Indy, I allocate 10% of the rent for maintenance/repairs, and additional 180$/month for CapEx, per the computation at: https://www.biggerpockets.com/.... On the one hand, I think evaluation CapEx in the way explained in the link makes sense. On the other hand, for a 1000$/month rental, I allocate in total 280$/month for fixing thing in the house (100 repairs + 180 capex), which sounds excessive.
I want to hear from actual landlords, what is a fair estimation here? Do you really need 1200$/year for small repairs? Do you really need to paint the entire house and replace flooring for a total of ~5k every 5-6 years? How much do you actually spend on those things?