How should the P&L look like?

[Eyal Goren]

Hi, 

I'm looking to BRRR my first property, and looking at properties in Sherman, TX.

Was wondering how does a healthy P&L look like?

My buy box is 3-1/2. For which I'm seeing the rent is around $1650/month, but with conservative numbers I'm not getting anywhere close to a $200 monthly profit - which is what I understand a healthy P&L should produce.

What am I missing?

In this scenario, the house will cost 150k, rehab 20k, refinance loan - after appraisal of 232k - will be around 151k @ 7.7% interest, for 30 years.

Thanks

Eyal