Renting out my primary residence and buying a new primary

[Michael Ashe]

Back again but with a little more info. I want to get started in real. Estate investment, what's my current primary residence in Knoxville, TN. I've done the math roughly and honestly the cashflow is coming out much less than I'd hoped for by a long shot.

Based on similar homes here's where I'm at. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.

After all that I'm in a range of breaking even or making $200 a month with this as a rental. My question is at what point is it not worth it to use this as a rental? Am I here already or have I made a mistake in my numbers assuming everything I layed out here is correct.

[Cory King]

Quote from @Michael Ashe:

Back again but with a little more info. I want to get started in real. Estate investment, what's my current primary residence in Knoxville, TN. I've done the math roughly and honestly the cashflow is coming out much less than I'd hoped for by a long shot.

Based on similar homes here's where I'm at. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.

After all that I'm in a range of breaking even or making $200 a month with this as a rental. My question is at what point is it not worth it to use this as a rental? Am I here already or have I made a mistake in my numbers assuming everything I layed out here is correct.

Depends on your circumstances and goals. House hacking for a bit of added cash flow without moving?

Based on that math yes, you'd clear a couple hundred dollars after all debts and expenses, not the worst spot to be if you're not necessarily needing the cashflow/trying to live off of it, but instead are focusing on playing the long game. 

Knoxville has a lot of runway for growth and by picking up 1 each year or 2 is a solid long term play.