Monthly expenses are calculated as a percentage (%) of the total rental income. For example with a $1000 rental income, entering in 5 will be an expense of $50.
Utilities: Any utilities that will be paid by the landlord such as water, electricity, gas or oil.
Vacancy: The estimated expense of loss rental income due to vacancy.
Repairs & Maintenance: Smaller repairs needed to keep a property functioning and habitable. The IRS allows maintenance items to be depreciated all in the same year. Examples: Repairing broken fridge or patching leaky roof.
CapEx: CapEx or Capital Expenditures are larger items that increases the value of the property or extends its life. The IRS requires CapEx to be depreciated over the useful lifetime of the item over multiple years. Examples: Replacing a new fridge or replacing an entire roof.
Property Management: The cost of managing a property.