My standard advice is to start with a 150-175k duplex in a B/C that meets at least the 1% rule upon purchase and has upside in rents with cosmetic rehab (but is occupied as is at a lower rent).

These (not the counters) will probably last 50-100 years and could last forever.Home Depot/Menards/Lowes cabs (off-the-shelf oak-faced w/ particle board sides and backs) would have been about $1500-$1800 unfinished, uninstalled, without any soft-close stuff, and I would have had to fit stock sizes in a non-standard space.

Are the closing costs pretty standard?

This ultimately comes from the short term Bond Market where they were trading bonds on a hour by hour basis and it was easier to calculate not including leap years, and months that have more of less than 30 days so they just standardized 30 days a month times 12.

As long as you understand that you are going into partnership with your landlord and he is receiving compensation above the standard rent then anything can be worked out.

With that being said I have read many books and listen to podcast and dip my foot in the water with a JV flip. 

(In advance I know some of the variable expenses are fixed and the fixed are variable.)Fixed expenses: Electricity .04653 Water and Sewer .0167 Garbage .0352 Property taxes  HOA's .05 Heating .045 Monthly insurance .024 PMI .01 Variable Landlord expenses Vacancy rate .06-.09 Repairs and maintenance .02 Capital Expenditures .08 Management fees .083 Depreciation (1/27.5)My question is this.

I've taken into account the expenses you've mentioned above, but i was wondering, if the landlord would be responsible for the water, sewer, garbage expenses as well?

I just had a lovely family from Australia with 4 kids discovering California for the first time who were denied from their booking due to "water damage" , they were told.

I’d also give some thought to the water quality in your area.